Question

A man sold his scooter for rs. 8000 and lost 20%. For what amount should he have sold it to gain 20%.

Answer 1

Suppose cost price of Scooter is Rs.x.

Loss = 20%

Then selling price = x−x×20100 = x−x5 = 4x5

And the given selling price of scooter is Rs.8000. So we have;

4x5 = 8000⇒x = 8000×54 = 10000

So the cost price of scooter is Rs.10000.

For a gain of 20%; Selling price = 10000+10000×20100 = 10000+2000 = 12000

Therefore selling price of scooter should be Rs.12000 to gain 20%.