Question

A cycle is sold for Rs. $880$ at a loss of $20\%$. For how much should it be sold to gain $10\%$?

• A. Rs. $100$
• B. Rs. $1100$
• C. Rs. $1210$
• D. Rs. $1400$

Answer 1

Answer: (C)

Rs. $1210$

Given : Selling Price (SP) $=880$ Rs. and Loss Percentage $=20\%$

Let's assume cost price (CP) $=x$ Rs.

We know that, $SP=CP-\frac{CP\times LossPercentage}{100}$

$\Rightarrow 880=x-\frac{x\times 20}{100}=\frac{4x}{5}$

$\Rightarrow x=\frac{880\times 5}{4}=1100$

$\therefore SP=1100Rs$

Now, for a gain of 10%,

$SP=CP+\frac{CP\times ProfitPercentage}{100}=1100+\frac{1100\times 10}{100}=1210Rs.$