When a “Mercedes-Benz” is sold for Rs. 18,700, the owner loses 15%. At what price must that “Mercedes-Benz” be sold in order to gain 15%?Rs. 21,000Rs. 22,500Rs. 25,300Rs. 25,800
Question
When a “Mercedes-Benz” is sold for Rs. 18,700, the owner loses 15%. At what price must that “Mercedes-Benz” be sold in order to gain 15%?Rs. 21,000Rs. 22,500Rs. 25,300Rs. 25,800
Solution
First, we need to find the original price of the Mercedes-Benz. If the owner loses 15% when selling it for Rs. 18,700, that means Rs. 18,700 is 85% of the original price (because 100% - 15% = 85%).
We can set up the equation: 0.85(Original Price) = Rs. 18,700
To solve for the Original Price, we divide both sides of the equation by 0.85:
Original Price = Rs. 18,700 / 0.85 = Rs. 22,000
Now, to find the price that would give the owner a 15% gain, we calculate 15% of the original price and add it to the original price:
15% of Rs. 22,000 = 0.15 * Rs. 22,000 = Rs. 3,300
So, the price to sell the Mercedes-Benz to gain 15% would be: Rs. 22,000 + Rs. 3,300 = Rs. 25,300
So, the correct answer is Rs. 25,300.
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