Question

Renu sold her watch for Rs.960 and earned 20%profit.in order to obtain a profit of 60%,what should be the selling price?

Answer 1

960÷120(20 % profit included )×160(desired profit 60% ) = 1280 rupees

Answer 2

What is the cost price?

The cost price is the original price of items or goods at which it is bought by the retailer.

What is the selling price?

The selling price is the price of items or goods at which it is sold to the customer.

What is profit?

A profit usually occurs in the transaction when the selling price of the item is more than the cost price of the item.

How to calculate the cost price and the selling price?

The cost price and selling price of the watch can be found by using the following formula:

$\boxed{\bold{C.P. = \frac{100 }{100 + Gain\%} \times S.P. }}$

$\boxed{\bold{S.P. = \frac{100 + Gain\%}{100} \times C.P. }}$

Now, let's solve the given question:

The selling price of Renu's watch = Rs. 960

The profit percentage earned by Renu = 20%

On substituting the values in the above formula of the C.P., we get

$C.P. = \frac{100 }{100 + 20} \times 960$

$\implies C.P. =\frac{100 }{120} \times 960$

$\implies C.P. =\frac{5 }{6} \times 960$

$\implies \bold{C.P. = Rs.\:800}$

If Renu wants to obtain a profit of 60% then her S.P. should be as follows:

$S.P. = \frac{100 +60}{100} \times 800$

$\implies S.P. = \frac{160}{100} \times 800$

$\implies S.P. = \frac{8}{5} \times 800$

$\implies \bold{S.P. = Rs. \:1280}$

Thus, the selling price of the watch should be → Rs. 1280.

Learn more about C.P., S.P., loss and gain here:

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