Question

Kunal sold a chair for Rs. 16720, he losses 12%. At what price he must sold a chair to gain 20%?
1. Rs. 21,000
2. Rs. 22,800
3. Rs. 15,000
4. Rs. 25,000

Answer 1

Correct Answer - Option 2 : Rs. 22,800

Given

Selling Price = Rs. 16,720

Loss = 12%

Concept

Selling Price = Cost price - Loss

And selling price = Cost price + Profit

Calculation

Let the cost price is Rs. x

16,720 = x - 12% of x

⇒ 16,720 = 88x/100

⇒ x = 19,000

New selling price = 19,000 + 20% of 19,000

⇒ 19,000 + 3800

⇒ 22,800

∴ Kunal must sold a chair for Rs. 22,800 to gain 20%