By selling an article for ₹640, a person loses 15% of its selling price. At what price (in ₹) should he sell it to gain 15% on its cost price?
Answer & explanation
Correct answer: option 2
Selling price = 640
Loss on selling price = 15% = \(\frac{3x}{20x}\) = \(\frac{Loss}{SP}\)
CP = 20x + 3x = 23x
CP = 20x = 640 (Given)
1x = 32
Req. SP to gain 15% on CP = 115% of 23x = 26.45x
1x = 32
26.45x = 846.4