By selling an article for ₹507.40, a person makes a profit of 18%. At what price (in ₹) should he sell it to make a profit of 24%?
- A520.80
- B524.60
- C533.20
- D540.50
Solution & Step-by-step Explanation
Let the Cost Price (CP) of the article be 100%.
When selling at an 18% profit, the Selling Price (SP
1
) is:
SP
1
=100%+18%=118%
Given that SP
1
=₹507.40:
118%=507.40⟹1%=
118
507.40
To make a profit of 24%, the new Selling Price (SP
2
) should be:
SP
2
=100%+24%=124%
Now, calculate SP
2
:
SP
2
=
118
507.40
×124
SP
2
=4.3×124=533.20
Thus, the article should be sold for ₹533.20.
When selling at an 18% profit, the Selling Price (SP
1
) is:
SP
1
=100%+18%=118%
Given that SP
1
=₹507.40:
118%=507.40⟹1%=
118
507.40
To make a profit of 24%, the new Selling Price (SP
2
) should be:
SP
2
=100%+24%=124%
Now, calculate SP
2
:
SP
2
=
118
507.40
×124
SP
2
=4.3×124=533.20
Thus, the article should be sold for ₹533.20.