A shopkeeper, sold cocoa seeds at the rate Rs 1,230 a kg and bears a loss of 5%. Now if he decides to sell it at Rs 1,353 per kg, what will be the result?
Let Cost price = Rs. $$x$$
Selling price = Rs. 1230
=> Loss % = $$\frac{x - 1230}{x} \times 100 = 5$$
=> $$\frac{x - 1230}{x} = \frac{5}{100} = \frac{1}{20}$$
=> $$20x - 24600 = x$$
=> $$x = \frac{24600}{19} = 1294.73$$
If selling price = Rs. 1353
=> Profit % = $$\frac{1353 - 1294.73}{1294.73} \times 100 \approx 4.5\% $$
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