By selling an article for ₹ 340, a trader loses 20%. To gain 15%, he must sell it for:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹488.75.
Given:
Selling price = ₹ 340
Profit = 15% and Loss = 20%
Calculations:
According to the question,
Final selling price = (Initial selling price/(100 - loss)) × (100 + profit)
⇒ (340/80) × 115
⇒ 488.75