Question

A person sold an article at a loss of 17%. Had he sold it for Rs. 87.29 more, he would have gained 12%. At what price should he have sold it to gain 25%?
1. Rs. 301
2. Rs. 376.25
3. Rs. 358.23
4. Rs. 332.01

Answer 1

Correct Answer - Option 2 : Rs. 376.25

Given:

An article was sold at a loss of 17%

It would have gained 12% if it was sold for Rs. 87.29 more.

Formula Used:

Profit % = (Profit/CP) × 100

Profit = SP – CP

Calculation:

Let CP be 100x

At 17% loss, SP = 83x

According to the question,

83x + 87.29 = 112x

⇒ 29x = 87.29

⇒ x = 3.01

SP for 25% gain = 100 × 3.01 × (125/100)

⇒ Rs. 376.25

∴ The price at which it should be sold to gain 25% is Rs. 376.25