Question

A shopkeeper has a loss of 10% on selling an article for Rs. 450, then find the selling price in order to get 15% profit.
1. Rs. 550
2. Rs. 500
3. Rs 575
4. Rs. 600

Answer 1

Correct Answer - Option 3 : Rs 575

Given:

Selling price of the article = Rs. 450

Loss % = 10%

Formula used:

Loss % = [(C.P - S.P)/C.P] × 100

S.P = [(100 + P%)/100] × C.P

Calculation:

Loss % = [(C.P - S.P)/C.P] × 100

⇒ 10 = [(C.P - 450)/C.P] × 100

⇒ 100 C.P - 45000 = 10 C.P

⇒ 100 C.P - 10 C.P = 45000

⇒ 90 C.P = 45000

⇒ C.P = 4500/9

⇒ C.P = Rs. 500

According to the question,

S.P = [(100 + P%)/100] × C.P

⇒ S.P = [(100 + 15)/100] × 500

⇒ S.P = Rs. 575

∴ The selling price is Rs. 575.