A cupboard was sold at a profit of 25%. Had it been sold at ₹360 less, the profit would have been only 5% .what should be the selling price in ₹ of the cupboard, so that there is a profit of 40%?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 2,520.
First selling price (25% profit) = ₹125x
Second selling price (5% profit) = ₹105x
Difference = ₹125x − ₹105x = ₹20x = ₹360
→ 20x = 360 ⇒ x = 18
So, Cost Price = ₹100x = ₹1800
For 40% profit:
SP = 1800 × 1.4 = ₹2520