If an article is sold for Rs. 2220, the percentage of profit earned is the same as the percentage of loss incurred if it is sold for Rs. 1580. At what price should the article be sold to make a profit of 25%?
ARs. 2175
BRs. 2275
CRs. 2375 ✓ Correct
DRs. 2300
Correct answer: (C) Rs. 2375
Explanation
The article must be sold for Rs. 2375.
Equal profit% and loss% means the two prices lie equidistant from the cost price.
So CP = (2220 + 1580) / 2 = 3800 / 2 = Rs. 1900.
For 25% profit, SP = 1900 x 1.25.
1900 x 1.25 = Rs. 2375.
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