Kishore had a loss of 20% on selling an article for ₹7,160. At what price should he have sold the item to make a profit of 30%?
Answer & explanation
Correct answer: option 1
Selling price of the article = 7,160
Loss% = 20%
Then the CP = 7,160 × \(\frac{100}{80}\) = 8950
Required profit = 30%
Then the selling price of the article = 130% of 8950
SP = 8950 × \(\frac{130}{100}\) = ₹11,635