Question : On selling a painting at Rs. 1,498, the gain is 25% more than the loss incurred on selling it at Rs. 1,300. To gain 25%, the selling price will be:
Option 1: Rs. 1,735
Option 2: Rs. 1,335
Option 3: Rs. 1,755
Option 4: Rs. 1,388
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Correct Answer: Rs. 1,735
Solution :
Let the cost price (CP) be $x$
According to the question,
(1498 – $x$) = ($x$ – 1300) × $\frac{125}{100}$
⇒(1498 – $x$) = ($x$ – 1300) × $\frac{5}{4}$
⇒ 4 × (1498 – $x$) = ($x$ – 1300) × 5
⇒ 5992 – 4$x$ = 5$x$ – 6500
⇒ 9$x$ = 12492
$x$ = CP = 1388
$\therefore$ For gaining 25%, selling price (SP) = 1388 × $\frac{125}{100}$ = Rs. 1,735
Hence, the correct answer is Rs. 1,735.
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