On selling an article for rupees 800, a person loses 20% of its selling price. At what price should be sell it to gain 25% on its cost price?Options1,2801,2501,2001,152
Question
On selling an article for rupees 800, a person loses 20% of its selling price. At what price should be sell it to gain 25% on its cost price?Options1,2801,2501,2001,152
Solution
First, let's find the cost price of the article. If the person loses 20% on selling the article for 800 rupees, it means 800 rupees is 80% of the cost price.
So, let's denote the cost price as X.
We can set up the equation as follows:
80/100 * X = 800
Solving for X gives us X = 800 / (80/100) = 1,000 rupees.
This is the cost price of the article.
Now, the person wants to gain 25% on the cost price.
So, the new selling price should be 125% of the cost price.
We can find this by multiplying the cost price by 125/100:
1,000 * 125/100 = 1,250 rupees.
So, the person should sell the article for 1,250 rupees to gain 25% on its cost price.
Therefore, the correct option is 1,250.
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