Question

by selling a chair for Rs 420 a dealer suffered a loss of 16% . At what price should he sell it to gain 20%? ​

Answer 1

Answer:

Hence, at Rs. 600 should he sell the chair to gain 20%.

Step-by-step explanation:

Given that,

Selling Price(S.P.) of a chair = Rs.420

Loss% = 16%

Therefore,

Cost Price(C.P.) = (S.P. × 100) / (100 - loss%).

                           = (420 × 100) / (100 - 16)

                           = 42000 / 84

                    C.P. = Rs.500

Now,

C.P. of the chair = Rs.500

Gain% = 20%

S.P. = {C.P. × (100 + g%)} / 100

      ={500 × (100 + 20)} / 100

      =(500 × 120) / 100

      = 60000 / 100

S.P. = Rs.600

Hence, at Rs. 600 should he sell the chair to gain 20%.

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