An almirah was bought for ₹15,500 and ₹260 was spent on its transportation. At what price should it be sold to gain 20% ?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. ₹18912.
An almirah was bought for ₹15,500 and ₹260 was spent on its transportation
Total cost spent on almirah = ₹15500 + ₹260 = 15760
To gain 20% profit = 15760 × 120/100 = ₹18912