Profit and Loss Practice Test 9

Question : 19 of 40

Marks: +1, -0

When a flat is sold for Rs 1,870,000, the owner loses 20%. At what price must the flat be sold to gain 20%?

Solution:

\table \CP ,\SP ,\Loss %;x, {1,8,70,000} ,20%

SP = CP - Loss per cent of cost

18,70,000 = x-20/100×x={4x}/5

{4x}/5 =18,70,000

Cost price = x = Rs 23,37,500
New SP of flat = Cost price + 20% of the cost price

= 23,37,500 +20/100 ×23,37,500

= 23,37,500 + 4,67,500

= Rs 28,05,000

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