A person sold an article at a loss of 12%. Had he sold it at a gain of 10.5%, he would have got Rs. 112.50 more. What is the original selling price (in Rs.) of the article?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 440.00
Selling Price = Cost Price × (1 - loss%/100)
Selling Price = Cost Price × (1 + Profit%/100)
Let the cost price of the article be Rs. 100P.
So, his actual selling price = 100P × 0.88 = 88P
Now, had he sold it at a gain of 10.5%, his selling price would have been = 100P × 1.105 = 110.5P
110.5P - 88P = 112.5
⇒ P = 5
⇒ 88P = 440