A person sold an article at a loss of 8%. Had he sold it at a gain of 10.5%, he would have received Rs. 92.50 more. To gain 12%, he should have sold it for:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. Rs. 560
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Concept |
Application |
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SP = CP × (1 + Gain/100) SP = CP × (1 – Loss/100) |
Suppose CP = 100x After 8% loss: SP = 100x × 0.92 = 92x And After 10.5% gain: SP = 100x × 1.105 = 110.5x According to the question: The difference in selling prices is Rs.92.5 So, 110.5x – 92x = 92.5 ⇒ 18.5x = 92.5 ⇒ x = Rs. 5 Hence, CP = 100 × 5 = Rs. 500 At 12% gain: SP = 500 × 1.12 = Rs. 560 |