On selling an article for Rs 240, a trader incurs a 4% loss. At what price should he sell to gain 10%?

Introduction:We first recover the cost price (CP) from a loss scenario, then compute the selling price (SP) for a desired gain percentage.

Given Data / Assumptions:

• Loss 4% when SP = Rs 240
• Want gain 10%

Concept / Approach:Loss 4% ⇒ SP = 0.96 * CP ⇒ CP = 240 / 0.96. Then SP_new = 1.10 * CP.

Step-by-Step Solution:CP = 240 / 0.96 = 250SP for 10% gain = 1.10 * 250 = Rs 275

Verification / Alternative check:Profit = 275 − 250 = 25; 25/250 * 100 = 10% (as required).

Why Other Options Are Wrong:Rs 340, Rs 320, Rs 264: Do not correspond to 10% gain on CP = 250.

Common Pitfalls:Applying the percentage to the wrong base (using SP instead of CP).

Final Answer:Rs. 275