Raj sold an item for Rs. 6, 384/- and incurred a loss of 30%. At what price…
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Raj sold an item for Rs. 6, 384/- and incurred a loss of 30%. At what price should he have sold the item to have gained a profit of 30%?
- A.
Rs. 14, 565/-
- B.
Rs. 11, 856/-
- C.
Rs. 13, 544/-
- D.
Cannot be determined
Attempted by 118 students.
Show answer & explanation
Correct answer: B
Solution: 2
Selling price of an item while getting 30% loss = 6384 Rs.
∵ 30 % loss, so 70% of cost price = selling price
∴ Cost price × (70/100) = selling price
∴ Cost price = selling price × (100/70)
= 6384 × (100/70)
= 9120 Rs.
For getting 30 % profit, selling price should be 130% of the cost price.
∴ Selling price = (130/100) × cost price
= (130/100) × 9120
= 11856 Rs.
So the correct option is (2).