The price of a commodity was sold at Rs.550/- at a profit of 10%. In order to gain 25% on CP, find the amount by which SP to be increased
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Answer:
Price of a commodity = ₹550
10% of that commodity
=(10×550)/100
=55
₹55 is 10% of ₹550
SP= 55+550= ₹605
25% of ₹550
=(25×550)/100
=(25×11)/2
=275/2
=137.50
₹137.50 is 25% of ₹550
SP= 137.50 + 550= ₹687.50
Previous price of the commodity was=₹605
Recent price of the commodity is= ₹687.50
The amount by which SP to be increased = 687.50-605 = ₹82.50
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