A chair is bought for Rs. 1500 and is sold at 25 percent loss. What is the selling price of the chair?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Rs. 1125.
C.P. of the chair = Rs.1500
Loss on selling the chair = 25%
Selling price = Cost price × (100 - loss %)/100
S.P. = 1500 × (100 - 25)/100
⇒ S.P. = 1500 × 75/100
⇒ S.P. = 15 × 75
⇒ S.P. = Rs. 1125