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If an article is sold for Rs. 2220, the percentage of profit earned by the shopkeeper is the same as the percentage of loss incurred on that article if it is sold for Rs. 1580. At what price should the article be sold so as to make a profit of 25%.

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UGC NET Official Paper 1: Held On 15 June 2023 Shift 2
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  1. Rs. 2175
  2. Rs. 2275 
  3. Rs. 2375
  4. Rs. 2300

Answer (Detailed Solution Below)

Option 3 : Rs. 2375
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Detailed Solution

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Calculation:

Let's assume that the profit% = x, then loss% is also = x

Now, 2x = (2220 - 1580)

⇒ x = 640/2

⇒ x = 320

So, CP = 2220 - 320 = 1900

Now, if the article sold at 25% profit then SP = 1900 × 5/4 = 2375

∴ The correct answer is 2375

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