Finding Prices / Charges Related to Buying and Selling
A shopkeeper ...
Question
A shopkeeper sells an item at a loss of 1212%. In order to gain 6% profit, he must increase the selling price by Rs. 92.50. The cost price of the item is
A
Rs. 500
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B
Rs. 450
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C
Rs. 550
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D
Rs. 600
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Solution
The correct option is A Rs. 500 Let the C.P. be Rs. x.
Loss =12.5%
So, the S.P. will be Rs. 0.875x
To gain 6%, his S.P. must be Rs. 1.06x.
The difference in selling price =1.06x−0.875x=92.50