The profit on selling an article for Rs 1100 is equal to 3 times the amount of loss on selling it for Rs 700. To gain 12.5% the article must be sold for?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 900.
Let c.p = x
According to the question,
1100 - x = 3(x - 700)
= 1100 - x = 3x - 2100
= 4x = 3200
= x = 800
When p% = 12.5%
Profit = (12.5/100) × 800 = 100
So, the article must be sold at = 800 + 100 = 900.