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Profit & Loss (Loss/Gain)
When a plot is sold for Rs. 18,700, the owner incurs a loss of 15%. At what price must the plot be sold to gain 15%?
Explanation and memory cue
If the plot is sold at Rs. 18,700 with a 15% loss, the cost price (CP) is Rs. 18,700 ÷ 0.85 = Rs. 22,000. To gain 15%, the selling price (SP) should be CP × 1.15 = Rs. 22,000 × 1.15 = Rs. 25,300. However, since Rs. 25,300 is option C, but the calculation shows it should be the correct answer, the original correct_answer was C. Rechecking: 22,000 × 1.15 = 25,300, so option C is correct. Therefore, the original correct_answer C is correct. The explanation is added and difficulty set to medium as it involves percentage calculations.