By selling an article for ₹ 480, a man incurs a loss of 10% At what price should he sell it, so that it makes a profit of 20% ?

Given:

Selling price (SP) = ₹480

Loss = 10%

Profit = 20%

Formula used:

Cost Price (CP) = \(\frac{SP}{(1 - \frac{Loss\%}{100})}\)

Selling Price for profit = \((CP \times (1 + \frac{Profit\%}{100}))\)

Calculations:

CP = \(\frac{480}{(1 - \frac{10}{100})}\)

⇒ CP = \(\frac{480}{0.90}\)

⇒ CP = ₹533.33

Selling Price for profit = \((533.33 \times (1 + \frac{20}{100}))\)

⇒ Selling Price for profit = \((533.33 \times 1.20)\)

⇒ Selling Price for profit = ₹640

∴ The correct answer is option (4).