If an article is sold for 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 1580. At what price should the article be sold so as to make a profit of 25%?
A2175
B2275
C2375 ✓ Correct
D2300
Correct answer: (C) 2375
Explanation
The article should be sold at 2375.
Equal profit percent and loss percent means the cost price is the midpoint of 2220 and 1580.
Cost price = (2220 + 1580)/2 = 1900.
For a 25% profit, selling price = 1900 x 1.25.
= 2375.
So it must be sold at 2375.
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