Question

A retailer sold a mobile set for Rs 8,330 and made a loss of 2%. For what price should he sell it to gain 7%?​

Answer 1

New Price = Rs. 9095

Explanation:

Selling Price = Rs 8,330

Loss = 2%

Costing Price:

Let CP be x

Then,

x = 8,330+0.02 x

=> x-0.02x = 8330

=> 0.98x = 8330

=> x = Rs. 8,500

So, Costing Price is Rs 8,500

Now, Profit for 7% profit %age:

Profit = 0.07 * 8500

Profit = Rs 595

New Price:

New Price = CP + Profit

New Price = 8500+595

New Price = Rs. 9095