A person buys an article for Rs.650 and gains 5\% on selling it. Find the selling price.
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Answer:
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Step-by-step explanation:
Let the selling price of 20 articles be Rs.x.
Cost of 100 articles =Rs.4000
Therefore,
Cost price of 1 articles =
100
4000 =Rs.40
Given that Ravish sold 20 articles at a gain of 5%.
Cost of 20 articles =
100
4000
×20=Rs.800
Let the selling price of 20 articles be Rs.x.
Therefore,
x=800+5% of 800
x=800+
100
5×800
⇒x=800+40=840
Now to get 20% gain on whole transaction,
Selling price of all the articles should be 120% of cost price.
Let the selling price of all the articles be Rs.y
Therefore,
y=4000+20% of 4000
y=4000+
100
20×4000
⇒y=4000+800=4800
Now,
Selling price of 80 articles =4800−840=Rs.3960
Cost price of 80 articles =40×80=Rs.3200
Gain =3960−3200=Rs.760
Therefore,
Gain % on 80 articles =
3200
760 ×100=23.75%
Hence Ravish must sell the remaining articles at 23.75% gain.
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