Question

By selling a.chair of 420 a dealer suffered with a loss of 16% at what price he should sell to get 20% of gain

Answer 1

lets first calculate cost price of chair

let cost price of chair = x

loss = 16% of C.P = 16% of x = 16x/100 = 4x/25

Sales price = Cost Price - loss

420 = x - (4x/25)

420 =  (25x - 4x) / 25

(420 × 25)/21 = x

x = 500

Cost price of chair = 500

SALES PRICE FOR GAIN of 20%

Sales Price = Cost Price + 20% of cost Price

                   = 500 + (20/100) × 500

                   = 500 + 100 = 600

Hence to make gain of 20% , dealer should sell it for Rs 600.

You can see how math is important. if dealer know this calculation he could have saved his losses.

Enjoy selling.

Answer 2

I hope it will help you .