Amit sold an article for Rs 7000 and he suffered a loss. Had he sold it for Rs 8750, his profit would have been three-fourth of his loss. At what price should he sell the article to gain 10%?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. Rs.8,800.
| Understanding/Application |
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Let the C.P. be x. Loss when S.P. is Rs. 7000 = x - 7000 Profit when S.P. is Rs. 8750 = 8750 - x |
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⇒ 8750 - x = (x - 7000) × 3/4 ⇒ 7x/4 = 14000 ⇒ x = 8000 ⇒ S.P. = 8000(110)/100 = Rs. 8800 |