A trader sells an article for ₹425 and loses 15%. At what price (in ₹) should he sell the article to earn 5% profit?
Answer & explanation
Correct answer: option 4
The cost price of the article = \(\frac{100}{100-15}\) × 425
= \(\frac{100}{85}\) × 425
= Rs. 500
The required selling price = \(\frac{100+5}{100}\) × 500
= \(\frac{100+5}{100}\) × 500
= Rs. 525