A man sells a bicycle for ₹990 at a loss of 10%. At what price (in ₹) should he sell the bicycle to earn a profit of 24%?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. ₹1,364
Let CP = 100
At 10% loss, SP = 90
But actual SP = ₹990
So, 90 → ₹990
1 unit = 990/90 = 11
CP = 100 × 11 = ₹1100
Now, for 24% profit:
New SP = 1100 × 1.24 = ₹1364