The percentage profit earned by selling an article for ₹1500 is equal to the percentage loss incurred by selling the same article for ₹900. At what price should the article be sold to earn a 10% profit?

Appeared in: DSSSB - 28 August 2019 (Shift-1)

Explanation

The problem states that the percentage profit from selling at ₹1500 is equal to the percentage loss from selling at ₹900.
Since the percentage is calculated on the same Cost Price (CP), the absolute profit amount must equal the absolute loss amount.
This allows us to set up the equation: Profit = Loss, which is (₹1500 - CP) = (CP - ₹900).
Solving this equation gives a Cost Price (CP) of ₹1200.
To earn a 10% profit, the new selling price is calculated as CP + 10% of CP, which is ₹1200 + (0.10 * ₹1200) = ₹1200 + ₹120 = ₹1320.

Option B: This is the calculated Cost Price of the article, not the selling price required to make a 10% profit.
Option C: This value is likely a result of a significant miscalculation. It is close to the profit amount (₹120) but is not the final selling price.
Option D: This is an incorrect calculation. It might result from an arithmetic error when adding the profit to the cost price or miscalculating the profit percentage.

Clinical Relevance

Nursing practice connection: This is primarily an exam-oriented knowledge point with limited direct bedside application, so retain Profit and Loss Calculation as background academic context rather than a clinical decision trigger.
This is a quantitative aptitude question designed to test mathematical reasoning and problem-solving skills, which are essential for various competitive exams.
While there is no direct clinical application, strong numeracy skills are crucial for nurses in tasks like medication dosage calculation, fluid balance monitoring, and interpreting patient data.
What if the desired profit was 20%? The new selling price would be ₹1200 + (0.20 * ₹1200) = ₹1200 + ₹240 = ₹1440.

How to Approach the Question

First, identify the key information: Selling Price 1 (₹1500) gives a profit, and Selling Price 2 (₹900) gives a loss.
Recognize the core principle: The problem states 'percentage profit equals percentage loss'. Since the cost price (the base for the percentage) is the same, this means the actual monetary profit equals the monetary loss.
Set up an algebraic equation. Let 'CP' be the cost price. The equation is: 1500 - CP = CP - 900.
Solve the equation for CP. Rearrange it to 2 * CP = 1500 + 900, which gives CP = ₹1200.
Finally, calculate the target selling price. The question asks for a 10% profit. Calculate 10% of the CP (0.10 * 1200 = 120) and add it to the CP (1200 + 120 = 1320).

Concept Tested & Keywords

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Practise the full DSSSB - 28 August 2019 (Shift-1)

Attempt every question from this paper in a timed mock, then review the full solution for each one.