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When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?

Correct answer: C. Rs. 25,300

  • A. Rs. 21,000
  • B. Rs. 22,500
  • C. Rs. 25,300
  • D. Rs. 25,800

Explanation

Rs. 18,700 represents 85% of the cost price because the owner incurred a 15% loss, so cost price = Rs. 18,700 / 0.85 = Rs. 22,000. For a 15% gain, the required price is Rs. 22,000 x 1.15 = Rs. 25,300; the likely error is adding 15% to Rs. 18,700 instead of first finding the cost price.

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Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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