Question : The difference between the cost price and the selling price is INR 143. If the profit percentage is 26%, then what is the selling price?
Option 1: INR 603
Option 2: INR 676
Option 3: INR 693
Option 4: INR 713
Correct Answer: INR 693
Solution :
Let the cost price be $x$.
Profit is 26%.
So, selling price $=\frac{100+26}{100}×x=\frac{63x}{50}$
According to the question,
$\frac{63x}{50}-x=143$
$⇒13x=143×50$
$\therefore x=550$
So, selling price $=\frac{63x}{50}=\frac{63×550}{50}=693$
Hence, the correct answer is INR 693.
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