Question

By selling an article for ₹20,240, a shopkeeper loses 8%. For what price (in ₹) should he sell it to make a profit of 12%?

• A. 24,460
• B. 26,440
• C. 24,640
• D. 26,044

Answer 1

Answer:

C. 24,640

Let the cost price (CP) be (x).

Given:
Selling at ₹20,240 results in an 8% loss
So,
$\text{SP} = 92$
0.92x = 20240
$\Rightarrow x = \frac{20240}{0.92} = 22000$

So, CP = ₹22,000

Now for 12% profit:
$\text{New SP} = 112$
Final Answer: ₹24,640