Question

Rashmi bought a purse for ₹ 475. For how much should she sell it to gain 16 %

Answer 1

CP = ₹475
Gain% = 16%

Gain amount = CP x Gain%
= ₹(475 x 16/100)
= ₹76
Therefore,
SP = CP + Gain amount
= ₹(475 + 76)
= ₹551 (Answer)

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Answer 2

Given,

The cost price of the purse = Rs. 475

Gain = 16%

To find,

The selling price of the purse after 16% gain.

Solution,

The selling price of the purse after 16% gain will be Rs. 551.

We can easily solve this problem by following the given steps.

According to the question,

The cost price of the purse = Rs. 475

Gain of 16% = 16% of Rs. 475

Gain of 16% = 16×475/100

Gain of 16% = 7600/100

Gain of 16% = Rs. 76

So, the selling price should be Rs. 76 more than the cost price of the purse to make a 16% gain.

Selling price = Cost price + Rs. 76

Selling price = Rs. (475+76)

Selling price = Rs. 551

Hence, the selling price of the purse after a 16% gain is Rs. 551.