Medha sells her bag for Rs 300 and loses Rs 60. At what price must she sell the article to gain 15%?

Options

A. Rs146
B. Rs172
C. Rs 414
D. Rs 516

Answer

To solve the problem step by step, we need to determine the cost price of the bag first and then calculate the selling price required for a 15% profit.

### Step 1: Determine the Cost Price (CP)
We know that:
- Selling Price (SP) = Rs. 300
- Loss = Rs. 60

The relationship between cost price, selling price, and loss is given by:
\[ \text{Loss} = \text{Cost Price} - \text{Selling Price} \]

We can rearrange this to find the cost price:
\[ \text{Cost Price} = \text{Selling Price} + \text{Loss} \]
Substituting the known values:
\[ \text{Cost Price} = 300 + 60 \]
\[ \text{Cost Price} = 360 \]

### Step 2: Calculate the Selling Price for 15% Profit
Now that we have the cost price, we can calculate the selling price required to achieve a 15% profit. The formula for selling price when profit percentage is known is:
\[ \text{Selling Price} = \text{Cost Price} + \text{Profit} \]
Where:
\[ \text{Profit} = \text{Profit Percentage} \times \text{Cost Price} \]

First, we need to calculate the profit:
\[ \text{Profit Percentage} = 15\% = \frac{15}{100} \]
\[ \text{Profit} = \frac{15}{100} \times 360 \]
\[ \text{Profit} = 54 \]

Now, we can find the selling price:
\[ \text{Selling Price} = \text{Cost Price} + \text{Profit} \]
\[ \text{Selling Price} = 360 + 54 \]
\[ \text{Selling Price} = 414 \]

### Final Answer
Medha must sell the bag for Rs. 414 to gain a 15% profit.

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