Question : After selling the article for Rs. 430, a person had a loss of 14%. For earning a gain of 14% how much amount an article will be sold?
Option 1: Rs. 480
Option 2: Rs. 490
Option 3: Rs. 570
Option 4: Rs. 600
Correct Answer: Rs. 570
Solution :
If the person had a loss of 14% after selling the article for Rs. 430, this means that 86% (100% – 14%) of the cost price is Rs. 430.
The cost price of the article = $\frac{430}{0.86}$ = Rs. 500
To earn a gain of 14%, the selling price of the article = $500 × \frac{114}{100}$ = Rs. 570
Hence, the correct answer is Rs. 570.
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