By selling a flower pot for ₹322 , a man gains 15% . At what price would he sell up to gain 20%.
Answers
let cp of flower pot be x
sp of flower pot = Rs 322
gain % = 15%
∴ gain = 15% of x
= 15x/100 = 3x/20
∴ cp of flower pot = sp - gain
=> x = 322 - 3/20x
=> x + 3x/20 = 322
=> 23x = 322 * 20
=> x = 6440/23 = Rs 280
gain% = 20%
∴gain = (20/100) * 280
= Rs 56
∴ sp of flower pot = cp + gain
= Rs 280 + Rs 56 = Rs 336
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Let the cost price of the flower pot be Rs "x".
Selling price = Rs 322.
Profit = Rs (322-x)
Profit % = (Profit * 100)/CP
or, [(322-x) * 100]/x
Acc to the question, [(322-x) * 100]/x = 15.
or, 32200 - 100x = 15x
or, 115x = 32200
or, x = 32200/115
or, x = 280.
Therefore, the cost price is Rs 280.
Now, let us assume that he sells it Rs "y" to make a profit of 20%.
Profit = Rs (y-280)
Profit % = [(y-280) * 100]/280 = 20
or, 100y - 28000 = 5600
or, 100y = 33600
or, y = Rs 336
He should sell it at Rs 336 to gain 20%. [Ans]