Arpita sold her mobile phone for ₹3000 at a loss of 25%. At what price should she sell it to get a profit of 30%?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹5200
Profit and loss percentages are taken on the cost price, so find the cost price first from the loss.
A 25% loss means the selling price is 75% of the cost price (CP)
\(0.75\times\text{CP}=3000\), so CP \(=\) ₹4000
A 30% profit means a selling price of 130% of CP
\(1.30\times4000=5200\), that is ₹5200