Question : A T.V. is sold at 8% gain. Had it been sold for Rs. 714 more, the gain would have been 15%. To gain 18%, the selling price of the T.V. should be:
Option 1: Rs. 12,036
Option 2: Rs. 12,138
Option 3: Rs. 11,934
Option 4: Rs. 12,240
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Correct Answer: Rs. 12,036
Solution :
Let the cost price of the T.V. as C.
From the problem,
If the T.V. had been sold for Rs. 714 more, the gain would have been 15%.
⇒ 1.08C + 714 = 1.15C
⇒ 0.07C = 714
⇒ C = Rs. 10,200
The selling price for an 18% gain = 1.18C = 1.18 × 10200 = Rs. 12,036
Hence, the correct answer is Rs. 12,036.
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