Question

By selling a suitcase for Rs. 570, a man loses 5$\%$. At what price must he sell it to gain 5$\%$ ?

• A. $Rs.630$
• B. $Rs.650$
• C. $Rs.580$
• D. $Rs.620$

Answer 1

The correct option is A $Rs.630$

Given that,

When a man sells a suitcase for $Rs.570$, he suffers a loss of $5\%$.

To find out,

The price at which he must sell the suitcase for gaining $5\%$.

Let the new selling price be $Rs.x$.

We know that, $C.P.=\frac{S.P.}{100-loss\%}\times 100$

Hence, cost price of the suitcase $=\frac{570}{100-5}\times 100$

$=\frac{570}{95}\times 100$

$=Rs.600$

Now, the cost price of the suitcase remains same, irrespective of the profit or loss.

We also know that, $S.P.=\frac{100+profit\%}{100}\times C.P.$

Here, $profit\%=5\%,C.P.=Rs.600,S.P.=Rs.x$

Hence, $x=\frac{100+5}{100}\times 600$

$=\frac{105}{100}\times 600$

$=Rs.630$

Hence, the man should sell the suitcase for $Rs.630$ to gain $5\%$.