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

Correct option is C

Given:

Selling Price at 8% loss = Rs. 20240

Desired profit = 12%

Formula Used:

CP =$$\frac{\text{SP}}{1 - \frac{\text{Loss\%}}{100}}$$​​

New SP =$$\text{CP} \times \left(1 + \frac{\text{Profit\%}}{100} \right)$$​

Solution:

CP =$$\frac{20240}{1 - \frac{8}{100}} = \frac{20240}{0.92} = 22,000$$​​

New SP =$$22000 \times \left(1 + \frac{12}{100} \right)$$​

=$$220 \times112$$​

= Rs. 24640

Alternate Method: 

92% = 20240 

1% = 220

112%  = 112 $$\times$$ 220 = Rs. 24640