Rakesh bought 50 articles for ₹20,000. He sold 20 of them at a gain of 15%. At what rate must he sell the remaining articles so as to gain 30% on the whole ? please solve this question
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Answer:
Rate of article = Rs. 560
Step-by-step explanation:
CP of 50 articles = Rs. 20,000
Overall profit% = 30%
Profit = 0.3 * 20,000 = Rs. 6,000
Total SP= CP + Profit = Rs. 26,000
CP of 1 article = 20000/50 = Rs. 400
CP of 20 articles = 400 * 20 = Rs. 8000
% Profit on 20 articles = 15%
Profit on 20 articles = 0.15 * 8000 = Rs. 1200
SP of 20 articles = CP of 20 articles+Profit on 20 articles
= 8000+1200 = Rs. 9200
SP of 30 articles = Total SP - SP of 20 articles = 26000 - 9200 = 16,800
SP of 1 article = 16800/30 = Rs. 560
∴ Rakesh must sell the remaining 30 articles at Rs. 560 each so as to get an overall profit of 30%.
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