Question 131
Manhar sold an item for Rs 8400 and incurred a loss of 25%. At what price should he have sold the item to have gained a profit of 40%
Solution
Percent Loss = (Cost Price - Selling Price)/Cost Price *100
0.25 = (Cost Price - 8400)/ Cost Price.
.75 Cost Price = 8400
Cost Price = 11200
Now to gain profit of 40%, selling price must have been,
Selling Price = Cost Price + 0.4 * Cost Price = 1.4*11200 = 15,680
Therefore, the correct option is option A.
Get AI Help?
Create a FREE account and get:
- Banking Quant Shortcuts PDF
- Free Banking Study Material - (15000 Questions)
- 135+ Banking previous papers with solutions PDF
- 100+ Online Tests for Free
