A car was sold for ₹3,30,000 at a 10% profit. For what price should the car be sold to gain a 25% profit?
Show answer & explanation
Correct answer: D
Explanation
Given:
Selling price at 10% profit = 330,000
Formula:
SP = CP × (100 + profit%)/100
330,000 = CP × 110/100
CP = 330,000 × 100/110
CP = 300,000
New SP at 25% profit
SP = 300,000 × 125/100
SP = ₹375,000