When an article is sold for ₹ 242.50, there is a loss of 3%. What will be the selling price, if the article is sold at a gain of 13%?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹282.50.
Calculations:
Let the CP of the article be 100x
When the loss is 3%, SP = 100x × 97/100 = 97x
We know that,
⇒ 97x = 242.50
⇒ x = 2.5
⇒ CP = 100x = 100 × 2.5 = 250
Selling price when it is sold at 13% profit = 250 × 113/100
⇒ 282.50