Question 232

Raj sold an item for Rs. 6384 and incurred a loss of 30%. At what price should he have sold the item to have gained a profit of 30%?

Solution

Let the CP of the article be x.

Loss % = (CP-SP)/CP = (x-6384)/x = 0.3

1 - 6384/x = 0.3

x = 9120

Profit % = (SP-CP)/CP

0.3 = (SP-9120)/9120

SP = 9120*1.3 = Rs 11,856

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