Question

At a profit of 8% a shopkeeper sold a calculator for Rs 1382.40.If he wants to increase his profit by 2%, at what price should he sell the calculator?
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Answer 1

Answer: New Price = Rs. 1408

Step-by-step explanation: Selling Price = Rs 1,382.4

Profit = 8%

Increased Profit = 10% (we'll discuss that later)

Costing Price:

Let CP be x

x = 1382.4 - 0.08x

=> x+0.08x = 1382.4

=> 1.08 x = 1382.4

Dividing both sides by 1.08

=> x = Rs 1280

So, the cost price is Rs 1280

Now, Let's discuss about the increased Profit:

Profit %age = 10%

Profit =  Profit %age * CP / 100

Profit = 12800/100

Profit = Rs. 128

New Price:

New Price = CP + Profit

New Price = 1280+128

New Price = Rs. 1408