Sumit sold a television at ₹15,500 and suffered a loss of 20%. At what price did he buy the television?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹19,375
A loss percentage is always taken on the cost price, so a 20% loss leaves the selling price at 80% of the cost price.
Selling price: \(0.8\times\text{CP}=15{,}500\)
\(\text{CP}=\displaystyle\frac{15500\times100}{80}=\) ₹19,375