Question

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%?

Answer 1

Answer: Rs. 25,300

Explanation:

First find the original price of the plot:

Assume this price is x:

x * ( 1 - 15%) = 18,700

0.85x = 18,700

x = 18,700/0.85

x = Rs. 22,000

To make a gain of 15%, sell at:

= 22,000 * (1 + 15%)

= 22,000 * 1.15

= Rs. 25,300