| Manhar sold an item for Rs. 8400 and incurred a loss of 25%. At what price should he have sold the item to have gained a profit of 40%? |
A) Rs. 15680
B) Rs. 16220
C) Rs. 14540
D) Cannot be determined
E) None of the above
Correct Answer: A
Solution :
| Selling price of item = Rs. 8400 |
| Loss = 25% |
| Selling price = Cost price \[-\] Loss |
| Let the cost price be \[x.\] |
| Then, loss \[=\frac{25}{100}\times x=\frac{x}{4}\] |
| \[\Rightarrow \]\[SP=8400\]\[\Rightarrow \]\[x-\frac{x}{4}=8400\]\[\Rightarrow \]\[\frac{3x}{4}=8400\] |
| \[\Rightarrow \]\[x=\frac{8400\times 4}{3}=2800\times 4\] |
| \[\Rightarrow \]\[x=11200\] |
| Required selling price \[=x+\frac{40}{100}\times x\] |
| \[=11200+\frac{4}{10}\times 11200\] |
| \[=11200+4480=\text{Rs}\text{.}\,\,\,\text{15680}\] |
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