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%?
Aptitude
Profit and Loss
Difficulty: Easy
Choose an option
Answer
Correct Answer: Rs. 25,300
Explanation
Given Data
- Selling price (with 15% loss) = Rs. 18,700
- Required: price to obtain 15% gain
Step 1: Recover the cost price (CP)Loss 15% ⇒ SPloss = 0.85 × CP18,700 = 0.85 × CP ⇒ CP = 18,700 ÷ 0.85 = Rs. 22,000
Step 2: Target selling price for 15% gainSPgain = 1.15 × CP = 1.15 × 22,000 = Rs. 25,300
Checks & Common Pitfalls
- Loss or gain percentages always apply to CP, not to previous SP.
- Use the reciprocal correctly: dividing by 0.85 to undo a 15% loss.
Final AnswerSell the plot for Rs. 25,300 to realize a 15% profit.