Question

The seller sells a smartphone for Rs. 2,550 and faces a loss of 15%. At what price the smartphone must be sold if the seller wants to gain 15% profit?

1. Rs. 2,700
2. Rs. 4,500
3. Rs. 4,235
4. Rs. 3,450

Answer 1

Correct Answer - Option 4 : Rs. 3,450

Given:

The seller sells a watch for Rs. 2,550 and faces loss of 15%.

Seller wants to gain 15% profits.

Concepts used:

Profit % = (Profits/C.P.) × 100

Loss % = (Loss/C.P.) × 100 

Profits = S.P. – C.P.

Loss = C.P. – S.P.

Calculation:

Let C.P. of smartphone be Rs. x.

The seller sells a smartphone for Rs. 2,550 and faces loss of 15%.

⇒ Loss % = 15

⇒ {(x - Rs. 2,550)/x} × 100 = 15

⇒ x = Rs. 3,000

Seller wants to gain 15% profits.

⇒ Profits/C.P. × 100 = 15

⇒ {(S.P. – 3,000)/3,000} × 100 = 15

⇒ S.P. = Rs. 3,450.

∴ Seller must sell the smartphone at price Rs. 3,450 to make 15% profits.