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Question 92

By selling a mobile for Rs. 5700, a trader would lose 5%. The price at which he sell it to gain 5% is

Solution

By selling at Rs. 5700, if the loss is 5%, it means that 5700 = 0.95*CP
Hence, CP = 5700/0.95

Now, to make a gain of 5%, the new SP = 1.05*CP = 1.05 * (5700/0.95) = Rs. 6300

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