Chander bought 10 tea sets at the cost of rupees 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
Chander should sell the remaining sets at Rs 1112.5 per set
Step-by-step explanation:
Chander bought 10 tea sets at the cost of rupees 1000 for each set
=> Total Cost = 1000 * 10 = Rs 10000
Since two sets were damaged he sold them at a loss of 20%.
Selling Price of 1 set = 1000 - (20/100)1000 = 800 Rs
2 Damaged tea sets sold = 2 * 800 = Rs 1600
overall profit of 5%
= (5/100) * 10000
= 500
Total Selling Price = 10000 + 500 = 10500 Rs
Selling Price of 8 Sets + selling Price of 2 Damaged Sets = 10500
=> Selling Price of 8 Sets + 1600 = 10500
=> Selling Price of 8 Sets = 8900
=> Selling Price of 1 Set = 8900/8 = Rs 1112.5
Chander should sell the remaining sets at Rs 1112.5 per set
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Chander bought 10 tea sets at the cost of rupees 1000 for each set
=> Total Cost = 1000 * 10 = Rs 10000
Since two sets were damaged he sold them at a loss of 20%.
Selling Price of 1 set = 1000 - (20/100)1000 = 800 Rs
2 Damaged tea sets sold = 2 * 800 = Rs 1600
overall profit of 5%
= (5/100) * 10000
= 500
Total Selling Price = 10000 + 500 = 10500 Rs
Selling Price of 8 Sets + selling Price of 2 Damaged Sets = 10500
=> Selling Price of 8 Sets + 1600 = 10500
=> Selling Price of 8 Sets = 8900
=> Selling Price of 1 Set = 8900/8 = Rs 1112.5
Chander should sell the remaining sets at Rs 1112.5 per set