On selling an article for Rs 1020, a merchant loses 15%. For how much price should he sell the article to gain 12% on it ?
A . Rs 1344
B . RS 1400
C . Rs 1200
D . RS 1500
Answer : A . Rs 1344
Explanation:
Selling Price (S.P) = Rs 1050
Loss = 15%
Let Cost Price (C.P) = 100%
SP = CP – Loss% = 100% – 15% = 85%
85% = Rs 1020
Therefore Cost Price = 100% = 1020/85 x 100 = 1200
To get 12% gain => SP = CP + Profit %
= 100 % + 12 %
= 112 %
= 1200 / 100 x 112 = Rs 1344
