Question

Mr Gupta has some rice of worth RS 3000. He sold 1/3 of it with 10% loss .By how many percent must the selling price be increased for making 10% profit on the outlay?​

Answer 1

20% more of cost price, or 30% more of initial selling price

Explanation:

Given:

• Product CP = Rs. 3000
• Sold 1/3 at a loss of 10%
• Target profit = 10%
• SP for the rest = ?

Solution

Total money to be obtained:

• 3000 + 10% = 3000*1.1 = Rs. 3300

Money already got:

• 1/3*3000 - 10% = 1000 - 10% = Rs. 900

Money left to obtain:

• 3300 - 900 = Rs. 2400

Product left to sell, worth of:

• 3000*2/3 = Rs. 2000

The difference:

• 2400 -2000 = Rs. 400

Required selling price increase:

• 400/2000* 100% = 20% of CP

Or compared to initial price, new SP to be increased by 30%