Question

A shopkeeper sold an article for 450 at a loss 10% at what price should he sell it as to gain 10%?​

Answer 1

The correct answer is "550". A further explanation is given below.

Explanation:

The given values are:

Selling price,

= 450

Loss,

= 10%

Profit,

= 10%

As we know,

⇒
`CP=(100)/(100-Loss \ percent)* SP`

On substituting the values, we get

⇒
`=(100)/(100-10)* 450`

⇒
`=(100)/(90)* 450`

⇒
`=500`

⇒
`Profit=500* (10)/(100)`

⇒
`=50`

Now,

Selling price on 10% profit will be:

⇒
`SP=CP+profit`

On substituting the values, we get

⇒
`=500+50`

⇒
`=Rs. \ 550`