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An article was sold at Rs. 920 at a prof...

An article was sold at Rs. 920 at a profit of 15%. Find the selling price to get a profit of 20%.
A. Rs. 1,000
B. Rs. 980
C. Rs. 960
D. Rs. 940

A

D

B

C

C

A

D

B

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem, we need to find the selling price (SP) of an article that was sold at Rs. 920 with a profit of 15%, and then determine the selling price to achieve a profit of 20%. ### Step-by-Step Solution: 1. **Determine the Cost Price (CP)**: - Let's assume the Cost Price (CP) of the article is Rs. 100. - Since the article was sold at a profit of 15%, the Selling Price (SP) can be calculated as: \[ SP = CP + (15\% \text{ of } CP) = 100 + (0.15 \times 100) = 100 + 15 = 115 \] 2. **Relate the Selling Price to the given value**: - We know that the Selling Price at a 15% profit is Rs. 920. Therefore, we can set up the equation: \[ 115 \text{ (theoretical SP)} = 920 \text{ (actual SP)} \] 3. **Find the actual Cost Price (CP)**: - To find the actual CP, we can set up the proportion: \[ \frac{CP}{100} = \frac{920}{115} \] - Cross-multiplying gives: \[ CP = \frac{920 \times 100}{115} \] - Calculating this: \[ CP = \frac{92000}{115} = 800 \] 4. **Calculate the Selling Price for a 20% profit**: - Now, to find the Selling Price for a profit of 20%, we calculate: \[ SP = CP + (20\% \text{ of } CP) = 800 + (0.20 \times 800) = 800 + 160 = 960 \] 5. **Conclusion**: - Therefore, the Selling Price to achieve a profit of 20% is Rs. 960. ### Final Answer: - The Selling Price to get a profit of 20% is **C. Rs. 960**.
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