Question

deepak sold a study table for rs 2231 at a loss of 3%.At what price should he sell it so as to gain 5%?

Answer 1

Let X be the Cost Price of the Study Table.
SP the selling price = Rs. 2231
Loss percentage = 3%

Formula to find the Cost Price (CP) :-  CP = [100 / (100-Loss%)]*SP
=>   CP = [100 / (100-3)] * 2231
=> 2300
The Cost Price of the Study Table is Rs. 2300/-

Deepak needs to sell the table at SP to gain 5%
Formula to use Profit = Gain% / CP * 100
=> Profit = 5 / 2300 * 100
=> Profit =  23 * 5
=> 115
The Selling Price will be CP + Profit
= 2300 + 115
= 2415

Ans. The Study Table should be sold at Rs. 2415/- to gain 5% profit.