I sold an article for Rs. 8800 thus gained 10%. For what amount should sell it to get 15% profit?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Rs.9,200
Let CP = 100%
An article is sold in 10% profit i.e (100% + 10%) of CP
110% Of CP = 8800
CP = 8800/110 × 100 = 8000Rs.
To gain 15% profit an article must be sold in (100% + 15%) of CP
Hence 115% of CP = 8000 × 115/100 = 9200 Rs.