UP Police Constable Exam Model Paper 3

Given:
Selling price = Rs. 4500
Gain = Rs. 500
Formula used:
Profit = selling price – cost price
Calculation:
Cost price = Rs.(4500 – 500)
⇒ Rs. 4000
Gain = 20% of 4000
⇒ Rs. 800
Selling price = Rs. 4000 + Rs. 800
⇒ Rs. 4800
So, selling price should be Rs. 4800 to gain 20%