Question
Download Solution PDFBy selling an article for ₹20,240, a shopkeeper loses 8%. For what price (in ₹) should he sell it to make a profit of 12%?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Selling price of the article (SP) = ₹20,240
Loss percentage = 8%
Profit percentage = 12%
Formula Used:
Cost Price (CP) = SP / (1 - Loss %/100)
Selling Price for desired profit (SPdesired) = CP × (1 + Profit %/100)
Calculation:
Cost Price (CP) = 20,240 / (1 - 8/100)
⇒ CP = 20,240 / (1 - 0.08)
⇒ CP = 20,240 / 0.92
⇒ CP = ₹22,000
Selling Price for desired profit (SPdesired) = CP × (1 + 12/100)
⇒ SPdesired = 22,000 × (1 + 0.12)
⇒ SPdesired = 22,000 × 1.12
⇒ SPdesired = ₹24,640
The selling price should be ₹24,640 to make a profit of 12%.
Last updated on Jul 8, 2025
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