The profit on selling an article for Rs. 1100 is equal to three 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
Suppose cost price = x
Then,
1100 - x = 3(x - 700)
⇒ x = 800
Now, Gain is 12.5%
Profit = 800 × 12.5/100 = 100
So, Article must be sold for = 800 + 100 = Rs. 900