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Question 58
What per cent selling price would be 34% of the cost price if the gross profit is 26% of the selling price?
Solution
Let us assume the Selling Price = Rs.100
It is given that the gross profit is 26% of the selling price = 26% of 100 = 26
Therefore, Profit = Rs.26
Cost Price = Selling Price - Profit = 100-26 = Rs. 74
34% of the cost price = 74*0.34 = Rs. 25.16
We need to find What per cent selling price would be 34% of the cost price.
That is (25.16/100)*100 = 25.16%
