A person sells wheat at a profit of 25 percent. If he reduces its selling price by Rs. 40, then the suffers a loss of 25 percent. What was the initial selling price of the wheat?
Answer & explanation
Correct answer: option 4
Profit% on CP + loss% on CP= Total reduce in selling price
(25% + 25%) of CP = Rs.40
100% of CP = Rs.80
Selling price = 80 × \(\frac{5}{4}\) = Rs.100