An item is sold for ₹2,744, and the seller earns 12% profit. What should be the selling price (in ₹) to eam only 5% profit?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹2,572.50.
SP = CP × (100 + P)/100
According to the given question,
2744 = CP × (100 + 12)/100
⇒ CP = 2744 × 100/112
⇒ CP = 2450
Now, SP = 2450 × 105/100
⇒ 2450 × 1.05 = 2572.50