Question

A dealer gains 16% by selling a mop for rs.78300.but due to competition in the market, he decides to make a profit of only 10%. what is it's new selling price?​

Answer 1

The correct answer is - 72,349.2

Explanation:

Given:

selling price = 7234.92

Initial profit = 16%

we know:

selling price = cost price + profit

Solution:

78300 = cp + 16*cp/100

profit = 78300*16/100 = 12528

cost price = 78300 - 12528 = 65772

then the profit on 10%

= 65772*10/100

= 6577.2

the new selling price = 65772+6577.2

= 72,349.2