Question

A man makes profit of 15% by selling an article for Rs 250 .At what rate should he sell it to make a profit of 38%?

Answer 1

original selling price = ₹250

profit= 15%

let the cost price of article be ₹ x

x + 15% of x = 250

1.15x = 250 => 115x ÷ 100 = 250

115x = 25000 => x = 25000 ÷ 115

x = 5000/ 23

cost price of article = ₹5000/ 23

required profit = 38%

= 38% of 5000/ 23 = 0.38 × 5000/ 23

= 1900/ 23

required selling price to gain 38%

= cost price + required profit

= (5000/ 23) + (1900/ 23)

= 6900/ 23 = ₹300

Answer: required selling price = ₹300