Question

An owner gains a profit of 5% when he sells
a product for Rs 65. Find the price at which
he should sell the product to gain 10% on
cost price?
Options
Rs. 73.40
Rs. 61.90
Rs. 22.67
Rs. 32.67

Answer 1

Problem:-

An owner gains a profit of 5% when he sells

a product for Rs. 65. Find the price at which

he should sell the product to gain 10% on

cost price?

Solution:-

Given:

S.P = Rs. 65

Gain = 5%

$\sf{ \therefore{C.P. = \dfrac{100}{100 + gain\%} \times S.P}}$

$\sf{C.P. = ( \dfrac{100}{100 + 5}) \times 65}$

$\sf{C.P. = \dfrac{100}{105} \times 65}$

$\sf{C.P = Rs. \: 61.90 }$

Now,

C.P. = Rs. 61.90

gain = 8%

We are required to find S.P.

$\sf{S.P. = (\dfrac{100 + gain\%}{100}) \times C.P.}$

$\sf{S.P. = ( \dfrac{100 + 10}{100} ) \times 61.90}$

$\sf{S.P. = \dfrac{110}{100} \times 61.90}$

$\sf{S.P. = Rs. \: 68.09}$