A person sold a pen drive for ₹1.674 and incurred a loss of 7%, At what price (in ₹) should it be sold to earn a profit of 11%?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 1,998.
Let the Cost Price (CP) be x
Loss of 7% ⇒ Selling Price = 93% of CP
0.93x = 1674 ⇒ x = 1674/0.93 = ₹1800
For 11% profit ⇒ SP = 111% of CP = 1.11 × 1800 = ₹1998