Question

A table was sold for $Rs.2,142$ at a gain of $5\%$. At what price should it be sold to gain $10\%$?

Answer 1

Given:
Selling price of the table (SP) = $Rs.2142$
Gain $\%$ = $5\%$

$\because$ Cost price of the table (CP) $=\frac{100}{100+\text{Gain}\%}\times \text{SP}$
$=\frac{100}{100+5}\times 2142$
$=\frac{100}{105}\times 2142$
$=Rs.2040$

Now, gain $\%$ to be achieved = $10\%$

$\therefore$ New Selling Price = $\frac{100+\text{Gain}\%}{100}\times \text{CP}$
$=\frac{100+10}{100}\times 2040$
$=\frac{110}{100}\times 2040$
$=Rs.2244$

Hence, the table should be sold at $Rs.2,244$ to gain $10\%$.