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%?
1 answer:
Answer:
New Price = Rs. 9095
Step-by-step explanation:
Selling Price = Rs 8,330
Loss = 2%
<u><em>Costing Price:</em></u>
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
<u><em>Now, Profit for 7% profit %age:</em></u>
Profit = 0.07 * 8500
Profit = Rs 595
<u><em>New Price:</em></u>
New Price = CP + Profit
New Price = 8500+595
New Price = Rs. 9095
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