Profit and Loss — A calculator is bought for ₹ 350 and sold at a gain of 15%. Compute the Selling Price (SP) of the calculator, showing the direct percentage-increase step on CP.
-
A₹ 358
-
B₹ 375
-
C₹ 472
-
D₹ 402.50
-
E₹ 415
Answer
Correct Answer: ₹ 402.50
Explanation
Introduction / Context: This is a direct percentage-increase application: when an article is sold at a stated profit, SP is CP increased by that percentage. It assesses speed and accuracy with simple percent calculations.
Given Data / Assumptions:
- CP = ₹ 350
- Gain% = 15%
Concept / Approach: For a profit of p%, SP = (1 + p/100) * CP. Substitute CP and p to find SP in one step.
Step-by-Step Solution:
SP = 1.15 * 350Compute: 350 * 1.15 = 402.50Thus SP = ₹ 402.50Verification / Alternative check: Profit amount = 402.50 − 350 = ₹ 52.50. Check percent: 52.50/350 * 100 = 15%, which matches exactly.
Why Other Options Are Wrong: ₹ 358 and ₹ 375 reflect smaller increases (≤ 7.14%). ₹ 472 and ₹ 415 overshoot the required 15% increase on ₹ 350.
Common Pitfalls: Adding 15% of a wrong base (e.g., on an incorrect CP) or rounding too early. Always compute on the given CP.
Final Answer: ₹ 402.50