By selling an article for ₹131.25, a trader gains as much percent as the number representing the cost price of the article. In order to earn 40% profit, at what price (in ₹) should he sell the article?
Answer & explanation
Correct answer: option 2
Let the cost price of the article = x
Profit% = x
So, According to the question,
x + \(\frac{x × x}{100}\) = 131.25
x2 + 100x - 13125 = 0
(x + 175) (x - 75) = 0
S0, x = 75
Now, the selling price of the article at a gain of 40% = 140% of 75 = 105