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By selling an article for Rs 360, the loss incurred is 10%. At what minimum price should he sell that article to avoid loss?
  • a)
    Rs 320
  • b)
    Rs 324
  • c)
    Rs 396
  • d)
    Rs 400
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
By selling an article for Rs 360, the loss incurred is 10%. At what mi...
Method to Solve :

Selling price of an article = Rs 368
Loss percent = 8%

Cost price = [(100) / (100 - Loss %)] x Selling Price
                = [(100) / (100 - 8)] x 368
                = 400
Cost price of the article = Rs 400

Gain = 10%
Selling price = [(100 + Gain%) / 100] x Cost Price
                   = [(100 + 10) / 100] x 400
                   = 440
Therefore, selling price of the article for a gain of 10% = Rs 440.
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By selling an article for Rs 360, the loss incurred is 10%. At what minimum price should he sell that article to avoid loss?a)Rs 320b)Rs 324c)Rs 396d)Rs 400Correct answer is option 'D'. Can you explain this answer?
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