Reema sold a suit at a profit of 10.5%. If she had sold it for Rs. 70 more, then the profit would have been 14%. The initial selling price (in Rs.) of the suit is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 2210
Let's assume the initial price = 100
His initial profit = 10.5%
His new profit = 14%
So, the difference in profit will equal to the increased amount.
(14 - 10.5)% = 70
3.5% = 70
1% = 200
100% = 2000 = CP
So, his initial SP = 2000 × (100 + 10.5)/100 = 2210