Question 70

A person sold a carpet for ₹360 and incurred a loss of 10%. At what price should it have been sold to make a gain of 20%?

Solution

A person sold a carpet for ₹360 and incurred a loss of 10%.

If we assume the cost price of the carpet is equal to 100%.

Then selling price in case of 10% loss will be equal to (100-10)%.

So 90% = 360

1% = 4

For a profit 20%, it should be sold 20% above the cost price. So the cost price was equal to 100%.

So the new selling price will be equal to (100+20)%

120% = $$120\times4$$

= 480

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