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Question 69
The loss in selling an article for Rs. 1235 was 5%. At what price should it be sold to get a profit of 10%?
Solution
Let cost price = X
Loss = 5% of X
= 0.05X
selling price = cp - loss
= X - 0.95X
= 0.95 X
Given that S.P = Rs 1235
so,
1235 = 0.95X
X = Rs 1300
given 10% profit
so, 10% of 1300 =130
s.p = cp + profit = 1300 - 130 = Rs 1430
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