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
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%?
Options:
- Rs.525
- Rs.500
- Rs.490
- Rs.486
Solution
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
Now, to find the selling price that would give an 8% profit, we can use the following equation:
Selling Price = CP + 8% of CP Selling Price = Rs.450 + 0.08 * Rs.450 Selling Price = Rs.450 + Rs.36 Selling Price = Rs.486
So, the stove would need to be sold for Rs.486 to earn a profit of 8%. The correct answer is Rs.486.
Similar Questions
A man sold two articles for Rs.20000 each.On selling first, he gains 20% and on the other, he loses 20%.What is the profit/loss in the ?transaction?2468
A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?
A boy incurs 5% loss by selling a book for Rs.1000. At what price should the book be sold to earn 5% profit?Options10001200None of these1105.26
Select the correct answerBy selling two articles for ₹800, a person gains the cost price of three articles. The profit percent is?Options120125150140
On selling an article for Rs. 200, a man loses Rs. 20. Find his profit per cent.A10%B9*1/11%C11*1/9%D20%
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.