Question

A dealer sold a radio at a profit of 23%. Had he sold it for INR 100 less, he would have gained a profit of 18%. Find the original selling price of radio. 
1. INR 2460
2. INR 2540
3. INR 2400
4. INR 2480

Answer 1

Correct Answer - Option 1 : INR 2460

Given:

A dealer sold a radio at a profit of 23%. Had he sold it for INR 100 less, he would have gained a profit of 18%

Calculation:

Earlier profit of 23% , now profit of 18% if sold for INR100 less.

Thus, 23% - 18% = INR 100

⇒ 5% = INR 100

⇒ 1% = INR 20

∴ CP = 100% = INR 2000

Thus, original selling price of radio = 2000 × 123/100 = INR 2460