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Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?
- a)350
- b)370
- c)375
- d)325
- e)None of the Above
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Akshay sells an article for Rs 500 and earned some profit. The profit ...
Selling price of an article = Rs 500; Let the cost price of the article = x
Profit = Rs (500 – x)
Selling price of the article = Rs 225; Loss = Rs (x – 225)
⇒ (500 – x) = 10 (x – 225)
⇒ 500 – x = 10x – 2250
⇒ 11x = 2750
⇒ x = 250
The cost prise of the article = Rs 250; Profit = 30%
Selling price = 250 x (100 + 130) / 100 = 325
Profit = Rs (500 – x)
Selling price of the article = Rs 225; Loss = Rs (x – 225)
⇒ (500 – x) = 10 (x – 225)
⇒ 500 – x = 10x – 2250
⇒ 11x = 2750
⇒ x = 250
The cost prise of the article = Rs 250; Profit = 30%
Selling price = 250 x (100 + 130) / 100 = 325
Most Upvoted Answer
Akshay sells an article for Rs 500 and earned some profit. The profit ...
Profit and Loss Calculation
Given that Akshay sells an article for Rs 500 and earned some profit. Let's assume that the cost price of the article is 'C'. Therefore,
Selling Price (SP) = Rs 500
Cost Price (CP) = C
Profit (P) = SP - CP
It is given that the profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. This implies that the loss incurred when the article is sold for Rs. 225 is,
Loss = (SP - 225)
Therefore, Profit = 10 * Loss
P = 10 * (SP - 225)
Substituting the value of SP in the above equation, we get,
500 - C = 10 * (275 - C)
500 - C = 2750 - 10C
9C = 2250
C = 250
Therefore, the cost price of the article is Rs 250.
Profit Calculation
If Akshay wants to make a profit of 30%, then
Profit = 30% of CP
Profit = 30/100 * 250
Profit = 75
Now, we can calculate the selling price using the formula,
SP = CP + Profit
SP = 250 + 75
SP = 325
Therefore, the selling price required to make a profit of 30% is Rs 325.
Final Answer: (d) 325.
Given that Akshay sells an article for Rs 500 and earned some profit. Let's assume that the cost price of the article is 'C'. Therefore,
Selling Price (SP) = Rs 500
Cost Price (CP) = C
Profit (P) = SP - CP
It is given that the profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. This implies that the loss incurred when the article is sold for Rs. 225 is,
Loss = (SP - 225)
Therefore, Profit = 10 * Loss
P = 10 * (SP - 225)
Substituting the value of SP in the above equation, we get,
500 - C = 10 * (275 - C)
500 - C = 2750 - 10C
9C = 2250
C = 250
Therefore, the cost price of the article is Rs 250.
Profit Calculation
If Akshay wants to make a profit of 30%, then
Profit = 30% of CP
Profit = 30/100 * 250
Profit = 75
Now, we can calculate the selling price using the formula,
SP = CP + Profit
SP = 250 + 75
SP = 325
Therefore, the selling price required to make a profit of 30% is Rs 325.
Final Answer: (d) 325.
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Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?a)350b)370c)375d)325e)None of the AboveCorrect answer is option 'D'. Can you explain this answer?
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Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?a)350b)370c)375d)325e)None of the AboveCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?a)350b)370c)375d)325e)None of the AboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?a)350b)370c)375d)325e)None of the AboveCorrect answer is option 'D'. Can you explain this answer?.
Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?a)350b)370c)375d)325e)None of the AboveCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?a)350b)370c)375d)325e)None of the AboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?a)350b)370c)375d)325e)None of the AboveCorrect answer is option 'D'. Can you explain this answer?.
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