Chander bought 10 tea sets at the cost of ₹1000 for each set. Since two sets were damaged he sold them at a loss of 20%. At what price should he sell the remaining sets so as to make an overall profit of 5%?
Answers
Remaining sets should be sold at 11.25% profit at Rs 1112.5 amount to make an overall profit of 5%
Step-by-step explanation:
Chander bought 10 tea sets at the cost of ₹1000 for each set
=> Total Cost Price = 10 * 1000 = Rs 10000
two sets were damaged he sold them at a loss of 20%.
=> Selling Price of Two sets = 1000 - (20/100)* 1000 = 800 Rs
Selling amount of two = 2 * 800 = Rs 1600
Let say selling Price of remaining 10-2 = 8 Tea sets = S
Selling Amount of 8 = 8S
Total Selling price = 8S + 1600
Overall Profit 5 % = (5/100) * 10000 = Rs 500
Selling Price = 10000 + 500 = 10500 Rs
8S + 1600 = 10500
=> 8S = 8900
=> S = 1,112.5
100 * (1112.5-1000) /1000 = 11.25 %
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