Question : While selling an article for INR 18,450, a person suffered a loss of 50%. At what price he should have sold the article to earn a profit of 50%?
Option 1: INR 13,837
Option 2: INR 52,000
Option 3: INR 55,350
Option 4: INR 56,775
Correct Answer: INR 55,350
Solution :
Given that the selling price = INR 18,450
Also, Loss = 50% of cost price
Selling price = Cost price – Loss
⇒ 18,450 = cost price – 50% of cost Price
⇒ Cost price = $\frac{18450}{0.5}$ = INR 36,900
So, profit = 50% of cost price = 50% of 36,900 = INR 18,450
Again, the selling price = cost price + profit
= 36,900 + 18,450
= INR 55,350 to get a profit of 50%.
Hence, the correct answer is INR 55,350.
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