Question

A merchant lost 8% by selling an iPod for rs 12880.at what price should he sell it to gain 8%

Answer 1

13910.4 is the correct answer

Answer 2

The merchant should sell the iPod for Rs. 15120 to make a profit of 8%.

Step-by-step explanation:

Step 1:

The merchant sold the iPod for = Rs. 12880

Loss% = 8%

∴ The cost price of the iPod is given by,

=  $\frac{100}{100 - L} * S.P.$

=  $\frac{100}{100 - 8} * 12880$

=  $\frac{100}{92} * 12880$

= 100 * 140

= Rs. 14000

Step 2:

We have to find the selling price of the iPod for the merchant so that he gain 8% on the transaction.

Thus,

The selling price of the iPod in order to have a gain, should be,

=  $\frac{100 + G}{100} * C.P.$

=  $\frac{100 + 8}{100} * 14000$

=  $\frac{108}{100} * 14000$

= 108 * 140

= Rs. 15120

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