General Aptitude TestNumerical AbilityProfit and Loss

A man purchased a cell phone for ₹24,500 and sold it at a gain of 12.…

A man purchased a cell phone for ₹24,500 and sold it at a gain of 12.5% calculated on the selling price. The selling price of the cell phone was:

Answer & explanation

Correct answer: option 2

CP of the phone = Rs. 24500

Gain on SP = 12.5%

Let the SP = 100

So, profit = 100 × 12.5% = 12.5

So, CP = 100 - 12.5 = CP = 87.5

Now,

87.5 units = 24500

1 = \(\frac{24500}{87.5}\)

1 = 280

100 = 100 × 280 = 28000

So, SP = 28000