that buy a plot of 70 lakh pcl3 by eight of plot at the loss of 6% at what price he should sell the remaining plot so that he gain 8% on the money invest the plot
Answers
Step-by-step explanation:
Full cost price=7,000,000
so 3/8 plot cost price is=7,000,000*3/8
=2625000
now loss of 6% =2625000-6/100
=2467500
now he wants 8% gains
=7,000,000+8%
=7560000
now money to be realised 7,560,000 from remaining plot sale is. = 7560000-2467500
=5092500
cost price of plot=₹70,00,000
since , given that he faced loss of 6%by selling 3 / 8 part of his plot.
then , Find the loss :
cost of 3 / 8 part of plot :
C.P1=( 3 / 8 )×70,00,000 = ₹2625000
selling price of 3 / 8 part of plot :
S.P1 = C.P1 - 6% of C.P1
=2625000 - 6% of 2625000
=2625000 - 0.06 × 2625000
=26,25,000 - 15,7500 =₹24,67,500
remaining part of plot = 1 - ( 3/8 ) = 5 / 8
since, he has to gain 8% on the money invested in the plot.
required selling price to gain 8% :
=70,00,000 + 8% of 70,00,000
=₹ 75,60,000
remaining selling price to gain 8% on the plot :
S.P2= ₹75,60,000 - S.P of 3 / 8 part of the plot
=75,60,000 - ₹24,67,500=₹50,92,500
cost price of remaining 5/ 8 part of plot :
C.P2=(5 / 8 )×70,00,000= ₹ 43,75,000
Gain = S.P2 - C.P2
= ₹ 50,92,500 - 43,75,000 = ₹ 7,17,500
gain% = ( gain × 100 ) / C.P2
= 7,17,500 × 100 /43,75,000
= 16.4 %
therefore , he should sell the remaining part of plot at the rate of 16.4 % to gain 8% on the money that he invested in the plot.
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