Correct Answer - Option 3 : Rs. 520
Given:
The selling price of the product = Rs.360
Loss = 10%
Formulae Used:
If an article is sold at a loss of a%, then the Selling Price is:
SP = [(100 – a)/100] × CP
Similarly, if an article is sold at a profit of a%, then the Selling Price is:
SP = [(100 + a)/100] × CP
Calculation:
For a loss of 10%, we have:
360 = [(100 – 10)/100] × CP
⇒ 360 = 0.9CP
⇒ CP = 360/0.9 = 400
For a profit of 30%, the SP becomes:
SP = [(100 + 30)/100] × 400
⇒ SP = 520
∴ The Selling Price of the article will be Rs.520