A shopkeeper bought an article for ₹500. At what price (in ₹) should he sell the article to make 24% profit?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 620.
SP = CP × (100 + profit%) ÷ 100
⇒ SP = 500 × (100 + 24) ÷ 100
⇒ SP = 500 × 124 ÷ 100
⇒ SP = 620