Question

A table was sold for 2142 at a gain of 20percent . At what price should it be sold to get gain of 40 percent

Answer 1

SP = 2142

Gain % = 20%

Therefore SP = CP + (CP/100 x Gain %)

Therefore 2142 = CP + (CP/100 x 20)

Therefore 2142 = CP + CP/5

Therefore 2142 = 6CP/5

Therefore 6CP = 2142 x 5

Therefore 6CP = 10710

Therefore CP = 1785

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AT 40% GAIN:-

SP = CP + (CP/100 x Gain %)

SP = 1785 + (1785/100 x 40)

SP = 1785 + 714

SP = 2502

IT MUST BE SOLD AT 2502 UNITS FOR 40 PERCENT GAIN