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A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%. At what price should he sell it to gain 20%?
- a)Rs. 80,000
- b)Rs. 84,000
- c)Rs. 88,800
- d)Rs. 90,000
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%...
Understanding the Loss
To determine at what price the shopkeeper should sell the article to gain a 20% profit, we first need to understand the cost price (CP) of the article from the information given about the loss.
Calculating Cost Price (CP)
- The selling price (SP) when the shopkeeper incurred a loss is Rs. 59,200.
- The loss percentage is 20%. This means the selling price is 80% of the cost price.
Formula:
SP = CP × (1 - Loss Percentage)
- Here, 59,200 = CP × 0.80
- To find CP:
CP = 59,200 / 0.80 = Rs. 74,000
Calculating Selling Price for Profit
Now that we have the cost price, we can calculate the selling price for a desired profit of 20%.
- The profit percentage is 20%, which means the selling price should be 120% of the cost price.
Formula:
SP = CP × (1 + Profit Percentage)
- Here, SP = 74,000 × 1.20
- To find the new selling price:
SP = 74,000 × 1.20 = Rs. 88,800
Conclusion
Therefore, to gain a 20% profit, the shopkeeper should sell the article for Rs. 88,800, which corresponds to option 'C'.
To determine at what price the shopkeeper should sell the article to gain a 20% profit, we first need to understand the cost price (CP) of the article from the information given about the loss.
Calculating Cost Price (CP)
- The selling price (SP) when the shopkeeper incurred a loss is Rs. 59,200.
- The loss percentage is 20%. This means the selling price is 80% of the cost price.
Formula:
SP = CP × (1 - Loss Percentage)
- Here, 59,200 = CP × 0.80
- To find CP:
CP = 59,200 / 0.80 = Rs. 74,000
Calculating Selling Price for Profit
Now that we have the cost price, we can calculate the selling price for a desired profit of 20%.
- The profit percentage is 20%, which means the selling price should be 120% of the cost price.
Formula:
SP = CP × (1 + Profit Percentage)
- Here, SP = 74,000 × 1.20
- To find the new selling price:
SP = 74,000 × 1.20 = Rs. 88,800
Conclusion
Therefore, to gain a 20% profit, the shopkeeper should sell the article for Rs. 88,800, which corresponds to option 'C'.
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A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%...
Hence, Option C is correct.
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Question Description
A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%. At what price should he sell it to gain 20%?a)Rs. 80,000b)Rs. 84,000c)Rs. 88,800d)Rs. 90,000Correct answer is option 'C'. Can you explain this answer? for SSC CGL 2026 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%. At what price should he sell it to gain 20%?a)Rs. 80,000b)Rs. 84,000c)Rs. 88,800d)Rs. 90,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC CGL 2026 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%. At what price should he sell it to gain 20%?a)Rs. 80,000b)Rs. 84,000c)Rs. 88,800d)Rs. 90,000Correct answer is option 'C'. Can you explain this answer?.
A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%. At what price should he sell it to gain 20%?a)Rs. 80,000b)Rs. 84,000c)Rs. 88,800d)Rs. 90,000Correct answer is option 'C'. Can you explain this answer? for SSC CGL 2026 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%. At what price should he sell it to gain 20%?a)Rs. 80,000b)Rs. 84,000c)Rs. 88,800d)Rs. 90,000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for SSC CGL 2026 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper sold an article for Rs. 59,200 and incurred a loss of 20%. At what price should he sell it to gain 20%?a)Rs. 80,000b)Rs. 84,000c)Rs. 88,800d)Rs. 90,000Correct answer is option 'C'. Can you explain this answer?.
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