Question

A merchant lost 8% by selling a cycle for Rs.1288. At what price should he sell it in order to gain 8%?

Answer 1

$SellingPrice$ of the cycle $=Rs.1288,Loss=8\%$

$\therefore CostPrice$ of the cycle $=[\frac{100}{100-LossPercent}\times S.P]$

$=Rs.[\frac{100}{100-8}\times 1288]=Rs.[\frac{100}{92}\times 1288]=Rs.1400$

Now, $C.P=Rs.1400$

$Gain$ (desired) $=8\%$

$\therefore S.P=[\frac{100+GainPercent}{100}\times C.P]$

$=Rs.[\frac{100+8}{100}\times 1400]=Rs.[\frac{108}{100}\times 1400]$

$=Rs.1512$