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A shopkeeper sells an item for Rs. 870 and earns 20% profit. At what price should he sell that item to make a profit of 50%?
- a)Rs. 1000
- b)Rs. 1125.50
- c)Rs. 1050.50
- d)Rs. 1087.50
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
A shopkeeper sells an item for Rs. 870 and earns 20% profit. At what p...
Understanding the Selling Price and Profit
The shopkeeper sells an item for Rs. 870 and makes a profit of 20%. To determine the cost price (CP) of the item, we can use the formula for profit:
- Profit = Selling Price - Cost Price
- Profit Percentage = (Profit / Cost Price) * 100
Given that the profit percentage is 20%, we can rearrange the formula to find the Cost Price.
Calculating the Cost Price
- Selling Price (SP) = Rs. 870
- Profit Percentage = 20%
Using the relationship:
CP = SP / (1 + Profit Percentage/100)
Substituting the values:
CP = 870 / (1 + 20/100) = 870 / 1.2 = Rs. 725
Calculating the Selling Price for 50% Profit
Next, to find the new selling price for a 50% profit, we again apply the profit formula:
- Desired Profit Percentage = 50%
Using the formula:
New SP = CP * (1 + Desired Profit Percentage/100)
So:
New SP = 725 * (1 + 50/100) = 725 * 1.5 = Rs. 1087.50
Conclusion
To achieve a profit of 50%, the shopkeeper should sell the item for Rs. 1087.50. Thus, the correct answer is option 'D'.
The shopkeeper sells an item for Rs. 870 and makes a profit of 20%. To determine the cost price (CP) of the item, we can use the formula for profit:
- Profit = Selling Price - Cost Price
- Profit Percentage = (Profit / Cost Price) * 100
Given that the profit percentage is 20%, we can rearrange the formula to find the Cost Price.
Calculating the Cost Price
- Selling Price (SP) = Rs. 870
- Profit Percentage = 20%
Using the relationship:
CP = SP / (1 + Profit Percentage/100)
Substituting the values:
CP = 870 / (1 + 20/100) = 870 / 1.2 = Rs. 725
Calculating the Selling Price for 50% Profit
Next, to find the new selling price for a 50% profit, we again apply the profit formula:
- Desired Profit Percentage = 50%
Using the formula:
New SP = CP * (1 + Desired Profit Percentage/100)
So:
New SP = 725 * (1 + 50/100) = 725 * 1.5 = Rs. 1087.50
Conclusion
To achieve a profit of 50%, the shopkeeper should sell the item for Rs. 1087.50. Thus, the correct answer is option 'D'.
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Hence, Option D is correct.
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Question Description
A shopkeeper sells an item for Rs. 870 and earns 20% profit. At what price should he sell that item to make a profit of 50%?a)Rs. 1000b)Rs. 1125.50c)Rs. 1050.50d)Rs. 1087.50Correct answer is option 'D'. 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 sells an item for Rs. 870 and earns 20% profit. At what price should he sell that item to make a profit of 50%?a)Rs. 1000b)Rs. 1125.50c)Rs. 1050.50d)Rs. 1087.50Correct answer is option 'D'. 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 sells an item for Rs. 870 and earns 20% profit. At what price should he sell that item to make a profit of 50%?a)Rs. 1000b)Rs. 1125.50c)Rs. 1050.50d)Rs. 1087.50Correct answer is option 'D'. Can you explain this answer?.
A shopkeeper sells an item for Rs. 870 and earns 20% profit. At what price should he sell that item to make a profit of 50%?a)Rs. 1000b)Rs. 1125.50c)Rs. 1050.50d)Rs. 1087.50Correct answer is option 'D'. 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 sells an item for Rs. 870 and earns 20% profit. At what price should he sell that item to make a profit of 50%?a)Rs. 1000b)Rs. 1125.50c)Rs. 1050.50d)Rs. 1087.50Correct answer is option 'D'. 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 sells an item for Rs. 870 and earns 20% profit. At what price should he sell that item to make a profit of 50%?a)Rs. 1000b)Rs. 1125.50c)Rs. 1050.50d)Rs. 1087.50Correct answer is option 'D'. Can you explain this answer?.
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