If an article is sold for Rs 355, there is a loss of 29%. At what price (in Rs) should it be sold to gain 31% of profit?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 655
Let the CP of an article be 100x.
There is a loss of 29% when it sold at 355
Selling price in terms of x = 100x - 29x = 71x
71x = 355
x = 5
100x = 5 × 100 = 500.
To get a gain of 31%, SP of an article in terms of x = 100x + 31x = 131x
131x = 131 × 5 = 655