Targeting a different outcome price: Raj sells an item for ₹ 6,384 at a 30% loss. At what price should he have sold the same item to make a 30% profit?
Aptitude
Profit and Loss
Difficulty: Easy
Choose an option
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A₹ 14,656
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B₹ 11,856
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C₹ 13,544
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Dcannot be determined
Answer
Correct Answer: ₹ 11,856
Explanation
Introduction / Context:Switching from a loss to a profit on the same article requires first recovering the cost price from one scenario and then applying the desired percentage to get the new selling price.
Given Data / Assumptions:
- SP_loss = ₹ 6,384 at 30% loss.
- Desired profit = 30% on the same cost price.
Concept / Approach:If loss is 30%, SP = 0.70 * CP ⇒ CP = SP / 0.70. For a 30% profit, SP_target = 1.30 * CP.
Step-by-Step Solution:CP = 6,384 / 0.70 = ₹ 9,120SP_target = 1.30 * 9,120 = ₹ 11,856
Verification / Alternative check:Check consistency: 30% of 9,120 is 2,736; 9,120 + 2,736 = 11,856, confirming the result.
Why Other Options Are Wrong:
- ₹ 13,544 / ₹ 14,656: incorrect multipliers or arithmetic.
- Cannot be determined: CP is exactly recoverable from the given loss scenario.
Common Pitfalls:
- Averaging 30% loss and 30% profit as if symmetric in price; the base changes (cost vs. selling price).
Final Answer:₹ 11,856