Q: By selling a cycle for rs 660, a shopkeeper losses 12%of its cost price. At what price should it be sold in order to gain 8%?
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Answer:
sp 660
cp 660/88*100=750
new sp 750*108/100=810
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Given : By selling a cycle for rs 660, a shopkeeper losses 12%of its cost price.
To find : At what price should it be sold in order to gain 8%?
Applying formula :
★ L = L/100 × CP
Calculations :
= L = (12/100) × CP
= L = 0.12
= CP 0.88C = 660
= CP = 750
= P = (8/100) × 750
= P = 60
= SP = 750 + 60
= SP = 810
Therefore, 810 is the price should it be sold in order to gain 8%.
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