Question

A man sells an article at a profit of 20% for rs.840.if he wishes to make a profit of 5%,what should be it's selling price?​

Answer 1

Given :-

A man sells an article at a profit of 20% for Rs.840.

To find :-

The Selling Price of the article if he wishes make a profit of 5% more.

Solution :-

Let the Cost Price of an article be Rs. X

Selling Price of the article = Rs. 840

Profit percentage on it = 20%

We know that

Cost Price = (100×Selling Price)/(100+g)

=> X = (100×840)/(100+20)

=> X = 84000/120

=> X = Rs. 700

The Cost Price of the article = Rs. 700

Wishing profit percentage = 5% more

Total Profit percentage = 20+5 = 25%

We have,

CP = Rs. 700

g % = 25%

We know that

Selling Price = [(100+g)/100]×Cost Price

=> Selling Price = [(100+25)/100]×700

=> Selling Price = (125/100)×700

=> Selling Price = 125×7

=> Selling Price = 875

Therefore, Selling Price = Rs. 875

Answer :-

The Selling Price should be Rs. 875

Used Formulae:-

◆ Cost Price = (100×SP)/(100+g)

◆ Selling Price = [(100+g)/100]×CP

Answer 2

Given :-

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• An article is sold for rs. 840 for profit of 20%

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To Find :-

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• Its selling price if the profit % is increased by 5%

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Formula Used :-

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$\qquad \bull \: \underline{ \boxed{ \sf C.P.= \dfrac{100 \times Selling ~Price }{100 + P\%} }}$

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$\qquad \bull \: \underline{ \boxed{ \sf S.P. = \dfrac{100 + P \%}{100} \times C.P.}}$

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Calculations :-

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Let the Cost price be x, therefore,

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$\\ \sf \dashrightarrow \: x = \dfrac{100 \times 840}{100 + 20} \\ \\ \\ \sf \dashrightarrow \: x = \frac{100 \times \cancel{840}}{ \cancel{120} } \\ \\ \\ \sf \dashrightarrow \: x = \frac{100 \times \cancel{42}}{ \cancel6} \\ \\ \\ \sf \dashrightarrow \: x = 100 \times 7 \: \: \: \\ \\ \\ \sf \dashrightarrow \: x = 700 \: \: \: \: \: \: \: \: \: \: \: \: \:$

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Thus, the cost price of the article is Rs. 700, now,

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• Expected P% = 25 %

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Therefore, new selling price is :-

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$\\ \sf \dashrightarrow \: x = \dfrac{100 + 25}{100} \times 700 \\ \\ \\\sf \dashrightarrow \: x = \cancel \frac{125}{100} \times 700 \: \: \: \: \: \: \: \: \: \: \\ \\ \\ \sf \dashrightarrow \: x = \frac{5}{ \cancel4} \times \cancel{700 }\: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \\ \\ \\ \sf \dashrightarrow \: x = 5 \times 175 \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \\ \\ \\ \sf \dashrightarrow \: x =87 5 \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \:$

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Thus, the selling price should be Rs. 875.

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