Question

Irene suffered a loss of 12% by selling a mask for Rs. 308. At what selling price would she have made a profit of 10%?
1. Rs. 396
2. Rs. 363
3. Rs. 374
4. Rs. 385

Answer 1

Correct Answer - Option 4 : Rs. 385

Given:

SP of mask = Rs. 308

Formula used:

Profit% = (Profit/Cost Price) × 100

Loss% = (Loss/Cost Price) × 100

Calculation:

Let the CP of the mask be 'P'.

⇒ P × (88/100) = 305

⇒ P = (305 × 100)/88

⇒ P = 350

Selling Price to make 10% profit

⇒ SP = 350 × (110/100)

⇒ SP = 385

∴ The selling price to make 10% profit is Rs. 385.