Question

On selling a chair for Rs 736, a shopkeeper suffers a loss of 8% . At what price should he sell it so as to gain 8%

Answer 1

SP=₹736
Loss=8%
CP= 100/100-L%×SP
= 100/100-8 ×736
= 100/92 ×736
= ₹800
CP= ₹800
Gain=8%
SP= 100+G%/100 ×CP
= 100+8/100 ×800
= 108/100 ×800
= ₹864


HOPE IT HELPS...!!
@Mansi

Answer 2

Given: Selling Price of chair = Rs. 736

           Loss incurred = 8%

To find: The price at which the chair should be sold to gain 8%

Solution: Given that,

Selling Price (SP) = Rs. 736

Loss (L) = 8%

Cost Price (CP) = ?

∵ $Selling \ Price = (1 - \frac{L}{100}) \ of \ CP$

⇒ $736 = (1 - \frac{8}{100}) \ of \ CP$

⇒ $736 = \frac{92}{100} \ of \ CP$

⇒ $CP = \frac{736 \ * \ 100}{92} = Rs. 800$

Now, we need to find the selling price at which the chair should be sold to gain 8%.

Gain is calculated on CP. So, 8% of 800 i.e., 64 is the profit we need to add to CP to get the SP.

∵ $Selling \ Price = Cost \ Price + Profit$

⇒ $800 + 64 = 864$

Hence, the chair must be sold at Rs. 864 to gain 8%.