On selling a painting at Rs.1,498, the gain is 25% more than the loss incurred on selling it at Rs.1,300. In order to gain 25%, the selling price will be:
This questions was previously asked in
ssc cgl 2023 pre
Rs.1,335
Incorrect AnswerRs.1,755
Incorrect AnswerRs.1,388
Incorrect AnswerExplanation:
Correct Option is 1- 1735.
1st Selling price (S.P) = Rs.1498 2nd selling price (S.P) = Rs.1300
Formula used:
Profit = (S.P - C.P)
Loss = (C.P - S.P)
S.P = C.Px (100+ P/L)
Where, C.P = cost price; S.P = Selling price
Calculation:
According to the question:
⇒(1498 - C.P) = 125% x (C.P - 1300)
⇒(1498 - C.P) = (5/4) x (C.P - 1300)
⇒ 4x (1498 - C.P) = 5 x (C.P - 1300)
5992-4C.P = 5C.P - 6500
=9C.P = (6500 + 5992)
⇒ C.P = 12492/9 = Rs.1388
Required S.P = C.P x (100+25) % = 1388 x 125% = Rs.1735
:. The correct answer is Rs.1735.
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By: Parvesh Mehta