Ankita sold her watch at 5% loss. If she had sold it for ₹300 more, she would have gained 5%. Find the selling price of the watch.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Rs. 2,850.
Ankita sold her watch at a 5% loss means she sold it at the price of 95%
If she had sold it for ₹300 more, she would have gained 5% then, she sold it at 105%
The required difference between her expected gain and loss = 105% - 95%
⇒ 105% - 95% = 300
⇒ 10% = 300
⇒ 100% = Rs.3000
So, the actual price of the watch is Rs.3000
Ankita sold her watch at a 5% loss
⇒ 3000 × (100 - 5)/100
⇒ 30 × 95 = Rs. 2850
Hence, Ankita sold her watch at Rs. 2850