A person sold an article at a loss of 16%. Had he sold it for Rs 660 more, he would have gained 8%. What should be the selling price (in Rs) to gain a profit of 12%?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 3,080
The person sold the article at a loss of 16%.
If he sold it for Rs. 660 more he have gained 8%.
Selling price = Cost Price + Profit
ATQ -
(16 + 8)% = Rs. 660
100% = (660/24) × 100 = 2750
The cost price of the article is Rs. 2750.
To get a profit of 12% net profit = (12/100) × 2750 = 330
The selling price = (2750 + 330) = 3,080