Question

By selling a tape-recorder for $600 a loss of $100 is suffered. Find its cost price. Also, find the price at which this tape-recorder be sold in order to gain 16%.

Answer 1

Answer:

Selling Price of the tape recorder (S.P.) = $600

Loss suffered = $100

Cost price of the tape recorder (C.P.) = S.P.+loss

=$(600+100)

=$700

Required gain % = 16%

Required S.P. = $C.P.+16\%\: of\: C.P.$

$\: \: \: \: \: \: \: \: \: \: \: \: \: \: =\: \ (700+\frac{16}{100}×700)\\ \: \: \: \: \: \: \: \: \: \: \: \: \: \: =\: \ (700+16×7)\\ \: \: \: \: \: \: \: \: \: \: \: \: \: \: =\: \ (700+102)\\ \: \: \: \: \: \: \: \: \: \: \: \: \: \: =\: \ 802$