Question

if 30% is lost by selling a sofa set for 980 , at what price must it be sold to gain 10%?

Answer 1

S.P of the sofa set= ₹980

Loss= 30%

C.P =( 100×S.P/100-Loss%)

C.P =( 100× 980/100-30)

C.P = (100×980/70)

C.P = 100×14

C.P= ₹1400

C.P of the sofa set= ₹ 1400

Desired gain= 10%

S.P =( 100+gain%/100)× C.P

S.P =( (100+10)/100)×1400

S.P = (110 ×1400)/100

S.P= 110× 14

S.P =₹ 1540

Hence, the S.P of the sofa set = ₹1540

==================================================================
Hope this will help you...

Answer 2

Solution :-

Selling price of sofa set = Rs. 980

Loss = 30 %

Cost price of sofa set = Rs. ?

Let the cost price of sofa set be Rs. x

Then, according to the question.

⇒ x - (x*30)/100 = 980

⇒ x/1 - 30x/100 = 980

⇒ x/1 - 3x/10 = 980

Taking LCM of the denominators and then solving it.

⇒ (10x - 3x)/10 = 980

⇒ 7x/10 = 980

⇒ 7x = 10*980

⇒ x = 9800/7

⇒ x = 1400

So, the cost price of sofa set is Rs. 1400

Now, profit required is 10 %

Then,

Selling price = Cost price + 10 % profit

⇒ Selling Price = 1400 + (1400*10)/100

⇒ 1400 + 140

Selling Price = Rs. 1540

So, the sofa set must be sold for Rs. 1540 to get a gain of 10 %

Answer.