A toy is bought for ₹75 and sold at a gain of 16%. Find its selling price (in ₹).
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 87
A gain is always reckoned on the cost price, so the selling price is the cost price plus 16% of it.
Gain: \(16\%\) of 75 \(\displaystyle =\frac{16\times75}{100}=12\)
Selling price: \(75+12=87\), that is, ₹87