On selling an article for Rs. 800, a person loses 20%. At what price should he sell it to gain 25% on its cost price?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Rs. 1250
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Concept |
Application |
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Selling Price = Cost Price [1 - Loss/100] |
Given: On selling the article for Rs. 800, person loses 20%. The cost price of the article = 800 × [100/80] = Rs. 1000 Now, To gain 25% on its cost price: SP = 1000 × 1.25 = Rs. 1250 |