by selling an article for rupees 700, a man lost 30%. at what price should he have sold it to gain 30%
Answers
Let, the C.P. be, 'x'
Case-1:
Cost price(C.P.) = x
Rate of loss = 30%
Selling price(S.P.) = 700
Loss = (x*30/100)
= 3x/10
Selling price(S.P.) = x-(3x/10)
=(10x-3x)/10 [∵ The L.C.M. is 10]
= 7x/10
According to the problem,
7x/10 = 700
⇒ 7x = 700*10
⇒ x = 7000/7
⇒ x = 1000
∴ The cost price(C.P.) of the article is ₹ 1000.
Case-2:
Cost price(C.P.) = ₹ 1000
Rate of gaining = 30%
Gain = ₹ (1000*30/100)
= ₹ 300
∴ Selling price(S.P.) = ₹ (1000+300)
= ₹ 1300
∴ He should have to sell the article by ₹ 1300 to gain 30%.
Let the cost price be 100, then
Selling price = 100 - 30 = 70.
If selling price is 70 then cost price is Rs 100 .
If selling price is Rs 700, then cost price will be,
=> 700 * 100 ÷ 70 = 1000
To sell at a profit of 30% the SP = Rs. 130 * 1000 ÷ 100 = 1300.
Hence, Selling price is 1300.
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