Question

If an object is sold at Rs. 500, there is a loss of 5%. At what price it should be sold to gain a profit of 5%?​

Answer 1

Object should be sold at Rs. 552.64 to gain 5% profit on it.

Explanation:

The selling price of the object is Rs.500

Also, given the loss% = 5%

First, we shall determine the cost price of the object.

$\mathrm{SP}=\mathrm{CP} \times(100-\mathrm{Loss}) \%$

Substituting the values, we have,

$500=\mathrm{CP} \times(100-5) \%\\500=\mathrm{CP} \times 95 \%\\500=\mathrm{CP} \times 0.95\\\frac{500}{0.95} =\mathrm{CP}$

$526.32=\mathrm{CP}$

Hence, the cost price of the object is Rs. 526.32

Now, we can find the selling price to gain a profit of 5%

The formula is given by

$\mathrm{SP}=\mathrm{CP} \times(100+\mathrm{Profit}) \%$

Substituting the values, we have,

$\mathrm{SP}=526.32 \times(100+5) \%\\\mathrm{SP}=526.32 \times(105) \%\\\mathrm{SP}=526.32 \times1.05\\\mathrm{SP}=552.64$

Thus, the selling price of the object is Rs. 552.64

Thus, the object should be sold at Rs. 552.64 to gain 5% profit on it.

Learn more:

1. brainly.in/question/3546661

2. brainly.in/question/14826138