A shopkeeper sold a piece of kurtasalwar for Rs 1080 at a loss of 10 %. At what price should be sell to gain 10% on it?
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Answer:If the shopkeeper lost 10% selling at 1,080, his cost (divide by .9) was 1,200.
To realize a 10% profit, divide the product cost of 1,200 by .9 which equals a sale price of 1,333.33
10% profit on a sale of 1,333.33 (1,333.33 x .9), cost = 1,200
The figures for a sale price of 1,320 given in other answers reflect a 10% profit based on the cost of the product. This is a common mistake. The figure 1,333.33 reflects a profit of 10% made on the selling price of the product.
Step-by-step explanation:
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