On selling an article for Rs. 500,the loss in | vedclass

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(B) Let the Cost Price $(CP)$ of the article be $x$.Given that the selling price $(SP_1)$ is $Rs. 500$ and the loss is $20 \%$.Loss percentage formula

Vedclass · Accepted Answer

$750$

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(B) Let the Cost Price $(CP)$ of the article be $x$.Given that the selling price $(SP_1)$ is $Rs. 500$ and the loss is $20 \%$.Loss percentage formula: $Loss \% = \frac{CP - SP}{CP} 	imes 100$.$20 = \frac{x - 500}{x} 	imes 100$.$0.20x = x - 500$.$0.80x = 500$.$x = \frac{500}{0.8} = 625$.So,the Cost Price $(CP)$ is $Rs. 625$.Now,to make a profit of $20 \%$,the new Selling Price $(SP_2)$ should be:$SP_2 = CP 	imes (1 + 	ext{Profit} \%)$.$SP_2 = 625 	imes (1 + 0.20) = 625 	imes 1.2 = 750$.Therefore,the article must be sold at $Rs. 750$ to gain a $20 \%$ profit.

On selling an article for $Rs. 500$,the loss incurred is $20 \%$. To make a profit of $20 \%$,the article must be sold at what price in $Rs.$?

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