Question

A person incurs a loss of 6% by selling his old car for Rs. 300800. At what price should it have been sold to gain a profit of 7%?

• A. Rs. 323200
• B. Rs. 342400
• C. Rs. 339200
• D. Rs. 32000

Answer 1

The correct option is B Rs. 342400

We can understand that 300800 = 94% of cost price
Actual cost price$=\frac{300800}{94}\times 100=Rs.320000$
To gain 7% profit, $SP=\frac{320000}{100}\times 107=Rs.342400$