A person sold a stove for Rs.423 and incurred a loss of 6%.At what price would it be sold so as to earn a profit of 8%?Rs.525Rs.500Rs.490Rs.486
Question
Solution 1
To solve this problem, we first need to find the cost price of the stove.
Given that the person incurred a loss of 6% when selling the stove for Rs.423, we can set up the following equation to find the cost price (CP):
CP - 6% of CP = Rs.423 CP(1 - 0.06) = Rs.423 CP = Rs.423 / 0.94 CP = Rs.450
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