Riya sells an almirah for 2640 and had a loss of 12%. what should be selling price to have profit of 12%
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Answer:
Rs 3360
Step-by-step explanation:
Let us denote the cost price as CP, the selling price as SP
Given: SP = 2640, Loss = 12%
Since there is a loss, the CP is greater than SP
Let CP be x
∴ Loss % = (CP-SP)x100/CP
12 = (x-2640)100/x
12x = 100x-264000
100x-12x = 264000
88x = 264000
∴ x = 264000/88
x = 3000
∴ CP= 3000
Now, for earning a profit of 12%, the SP is greater than CP
Profit% = (SP-CP)x100/CP
12=(SP-3000)100/3000
= (SP-3000)/30
30x12 = 360 = SP-3000
∴ SP= 3000+360 = 3360
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