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By selling an article for Rs450, Riyan incurred a loss of 10%. At what price should he sell it to make a profit of 12%?
Rs440
Rs600
Rs560
Rs480
- When Riyan sold the article for Rs 450, he incurred a 10% loss.
- This means the cost price (CP) of the article was more than Rs 450.
- To find the CP, calculate: CP = Selling Price / (1 - Loss %). Thus, CP = 450 / 0.9 = Rs 500.
- To earn a 12% profit, Riyan needs to sell it for 1.12 times the CP.
- Calculate this as: Selling Price = CP * 1.12 = 500 * 1.12 = Rs 560.
- Option 1: Rs 440 is less than the CP and results in a loss.
- Option 2: Rs 600 is more than needed but gives more profit.
- Option 3: Rs 560 is the exact price for a 12% profit.
- Option 4: Rs 480 results in less than a 12% profit.
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