Explanation:

- X bought the toy for ?12,000.

- X sold the toy to Y at a profit of 50%, so Y paid:

- ?12,000 + (50% of ?12,000) = ?12,000 + ?6,000 = ?18,000.

- Y sold the toy to Z at a loss of 50%, meaning:

- Loss amount = 50% of ?18,000 = ?9,000.

- Therefore, Z purchased the toy for: ?18,000 - ?9,000 = ?9,000.

- Options were:

1. ?7,850

2. ?8,000

3. ?8,500

4. ?9,000

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