Correct Answer - Option 3 : Rs. 504
Given:
Difference between 13% loss and 11% profit = Rs. 108
Concept used:
Selling price = Cost price + (Cost price × profit percentage) [In case of profit]
Selling price = Cost price – (Cost price × loss percentage) [In case of loss]
Calculation:
13% loss = 87% of CP
11% profit = 111% of CP
⇒ Difference = (111 - 87)% = 24%
According to the question,
24% of CP = Rs. 108
⇒ 1% of CP = Rs. 108/24
⇒ 100% of CP = 9/2 × 100 = Rs. 450
⇒ CP = Rs. 450
⇒ SP =450 + 450 × 12/100
⇒ SP = 450 + 54
⇒ SP = 504
∴ Required selling price of the toy is Rs. 504