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Select the correct answerOn selling an article for rupees 800, a person loses 20% of its selling price. At what price should be sell it to gain 25% on its cost price?Options1,2801,2501,2001,152

Question

Select the correct answerOn selling an article for rupees 800, a person loses 20% of its selling price. At what price should be sell it to gain 25% on its cost price?Options1,2801,2501,2001,152

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Solution

First, let's find the cost price of the article. If the person loses 20% on selling the article for 800 rupees, it means 800 rupees is 80% of the cost price.

So, let's denote the cost price as X.

We can set up the equation as follows:

80/100 * X = 800

Solving for X gives us X = 800 / (80/100) = 1,000 rupees.

This is the cost price of the article.

Now, the person wants to gain 25% on the cost price.

So, the selling price should be 125% of the cost price.

We can find this by multiplying the cost price by 125/100:

1,000 * 125/100 = 1,250 rupees.

So, the person should sell the article for 1,250 rupees to gain 25% on its cost price.

Therefore, the correct answer is 1,250.

This problem has been solved

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