By selling an article for ₹1,500, a man gains ₹150. At what price (in ₹) should he sell the article to gain 24%?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 1,674.
Given:
Selling Price (SP) = ₹1500
Profit = ₹150
So, Cost Price (CP) = 1500 - 150 = ₹1350
To gain 24%,
New SP = CP × (1 + 24/100) = 1350 × 1.24 = ₹1674