Question : The difference between the cost price and the selling price is Rs. 341. If the profit percentage is 22 percent, then what is the selling price?
Option 1: Rs. 1972
Option 2: Rs. 1752
Option 3: Rs. 1891
Option 4: Rs. 1830
Correct Answer: Rs. 1891
Solution :
Given: The difference between the cost and selling prices is Rs. 341.
Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100 = 22\%$
$⇒ 22 = \frac{341}{\text{Cost price}}\times 100$
$⇒ \text{Cost price} = \frac{341\times 100}{22}$ = Rs. 1550
So, selling price = Cost price + 22% of cost price = 1550 $\times\frac{122}{100}$ = Rs. 1891
Hence, the correct answer is Rs. 1891.
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