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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%

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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%
1). Rs 15680
2). Rs 16220
3). Rs 14540
4). Cannot be determined

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1 answers

3 vote
Answered by on | Votes 3 |
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.

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