P sold an item for ₹ 70 and earned 100

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Profit and Loss

Question:

P sold an item for ₹ 70 and earned 100% profit. What should be the selling price of the item to earn 150% profit?

Options:

₹ 105

₹ 52.50

₹ 87.50

₹ 150

Correct Answer:

₹ 87.50

Explanation:

Let the price = 100%

profit given = 100%

Then the sp will be = 200%

Now, 200% of CP = 70

So, if the profit is 150% then the sp will be 250% of the CP,

then 250% of CP = 70 × 250/200 = ₹ 87.50