Selling a watch at Rs. 304 incurs a loss of 5%. At what price will the watch be sold at 5% profit
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Step-by-step explanation:
Formulas required for this sum:
Cost price(C.P)=100−Loss%100×Selling price
Selling price(S.P)=100%100+Profit%×Cost price
Loss%=5%
S.P=Rs 1140
C.P=100−5100×1140
C.P=95100×1140
C.P=1200
We found that the Cost price is Rs 1200
Profit%=5%
S.P=100100+5×1200
S.P=100105×1200
S.P=Rs 1260
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