Question

On selling an article for Rs 1020, a merchant loses 15%. For how much price should he sell the article to gain 12% on it ?

Answer 1

selling price of the article is 1344

Answer 2

To gain 12 %, the article must be sold for Rs 1344

Solution:

Given that,

Selling price of article = Rs 1020

Loss = 15 %

Find the cost price

$Cost\ price = selling\ price \times \frac{100}{100 - loss \%}\\\\Cost\ price = 1020 \times \frac{100}{100-15}\\\\Cost\ price = 1020 \times \frac{100}{85}\\\\Cost\ price = 1200$

To gain 12 %, Selling price of article is given as:

SP = cost price +  12 % of cost price

SP = 1200 + 12 % of 1200

$SP = 1200 + \frac{12}{100} \times 1200\\\\SP = 1200 + 144\\\\SP = 1344$

Thus to gain 12 %, the article must be sold for Rs 1344

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