A person sells wheat at a profit of 25 percent. If he reduces its selling price by Rs. 40, then he suffers a loss of 25 percent. What was the initial selling price fo the wheat?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Rs.100.
Let the cost price = x
1.25x - 0.75x = 40
⇒ 0.50x = 40
⇒ x = 80
Initial selling price = 1.25x = 1.25 × 80 = Rs.100