The Apple Profit Loss problem is as follows :
A shopkeeper sells 1 kg of apples for Rs. 160 at a loss of 20%. At what price should he sell a kg of apples to gain 20% ?
Now since he is at a loss of 20%, this implies that he got back 80% of his initial investment.
Say he bought the apples for Rs. x
Then we can say 160 = 80% of Rs.x = 0.8x
Solving we get x = 200
Now to get a 20% profit, we have to multiply this by 1.2
Hence he should sell the apples for 200 X 1.2 = Rs. 240
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