Question

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

Answer 1

Step-by-step explanation:

Given:-

An object is sold at rupees 500 there is a loss of 5%.

To find:-

At what price it should be sold to gain a profit of 5% ?

Solution:-

Let the cost price of an object be Rs. X

Selling Price of the object = Rs. 500

Loss on it = 5%

We know that

Cost Price = (100× Selling Price)/(100 - loss)

=> X = (100×500)/(100-5)

=> X = 50000 / 95

=> X = Rs. 526.32 (approximately)

Cost Price of the object = Rs. 526.32

Let the selling Price of the object to get 5% gain be Rs. Y

We know that

Selling Price =[ (100+gain)×Cost Price]/100

=> Y = [(100+5)/100]× (50000/95)

=> Y = (105/100)×(50000/95)

=> Y = (105×50000)/(100×95)

=> Y = (105×500)/95

=> Y = 52500/95

=> Y = Rs.552.63 (approximately)

Shortcut:-

If the Cost Price of an object is C and the Selling Price is S1 and the loss is l% and The Selling Price of an object to get g% on it is S1(100+g%)/(100-l%)

We have , S1 = 500, g%= 5% and l%=5%

Required Selling Price =

500×(100+5)/(100-5)

= 500×105/95

=> 52500/95

=> Rs. 552.63 (approximately)

Answer:-

Required Selling Price for getting 5% gain on it is Rs. 552.63

Used formulae:-

1.Cost Price

= (100× Selling Price)/(100 - loss)

2.Selling Price

=[ (100+gain)×Cost Price]/100

3.If the Cost Price of an object is C and the Selling Price is S1 and the loss is l% and The Selling Price of an object to get g% on it is S1(100+g%)/(100-l%)