Vijay sold a watch at a loss of 50%. If the loss is ₹2,400, then what is the selling price of the watch?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹2,400
Loss = C.P. - S.P.
S.P. = C.P. × (100 + P/L%)/100
Given that ,
Loss % = 50%
And loss = ₹2,400
Now, let the cost price (C.P.) of the watch be ₹x.
So, S.P. = 50x/100 = x/2
⇒ Loss = C.P. - S.P.
⇒ 2,400 = x - x/2
⇒ x = 2,400 × 2
⇒ x = 4,800
Therefore, S.P. = x/2 = 4,800/2 = 2,400
Hence the required selling price is ₹2,400.