On selling a bike for ₹2500 of a seller incurs a loss of 20%. What price would have caused him to lose 30%?
Answer & explanation
Correct answer: option 4
Selling price of the bike = 2500
Loss = 20%
Required loss = 30%
So according to the question,
80% of the CP = 2500
70% of the CP = 2500 × \(\frac{70}{80}\) = ₹2187.5