26 Views

Question : A person sold an article at a loss of 4%. Had he sold it at a gain of 1%, he would have received Rs. 42.5 more. To gain 18%, what must be his selling price?

Option 1: Rs. 756

Option 2: Rs. 900

Option 3: Rs.1003

Option 4: Rs. 850


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 18th Jan, 2024

Correct Answer: Rs.1003


Solution : Let the cost price of the article be $x$.
A person sold an article at a loss of 4%.
Selling price of the article = $\frac{96}{100}×x=\frac{24x}{25}$
According to the question,
$\frac{101x}{100}-\frac{24x}{25}=42.5$
$⇒\frac{101x-96x}{100}=42.5$
$⇒\frac{x}{20}=42.5$
$\therefore x=850$
To gain 18%, selling price $=\frac{118}{100}×850=1003$
Hence, the correct answer is Rs. 1003.

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books