Question

Daksh buys a plot for ₹70,00,000 . He sells 3/8 of plot at a loss of 6% at what price he should sell the remaining plot so that he gains 8% on the money invested in the plot

Answer 1

cost price of plot=₹70,00,000

since , given that he faced loss of 6%by selling 3 / 8 part of his plot.

then , Find the loss :

cost of 3 / 8 part of plot :

C.P1=( 3 / 8 )×70,00,000 = ₹2625000

selling price of 3 / 8 part of plot :

S.P1 = C.P1 - 6% of C.P1

=2625000 - 6% of 2625000

=2625000 - 0.06 × 2625000

=26,25,000 - 15,7500 =₹24,67,500

remaining part of plot = 1 - ( 3/8 ) = 5 / 8

since, he has to gain 8% on the money invested in the plot.

required selling price to gain 8% :

=70,00,000 + 8% of 70,00,000

=₹ 75,60,000

remaining selling price to gain 8% on the plot :

S.P2= ₹75,60,000 - S.P of 3 / 8 part of the plot

=75,60,000 - ₹24,67,500=₹50,92,500

cost price of remaining 5/ 8 part of plot :

C.P2=(5 / 8 )×70,00,000= ₹ 43,75,000

Gain = S.P2 - C.P2

= ₹ 50,92,500 - 43,75,000 = ₹ 7,17,500

gain% = ( gain × 100 ) / C.P2

= 7,17,500 × 100 /43,75,000

= 16.4 %

therefore , he should sell the remaining part of plot at the rate of 16.4 % to gain 8% on the money that he invested in the plot.
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