Question

By selling an air-cooler for Rs 6,800, Mr. Avinash lost 15%. For what price should he sell it to get a profit of 10% ?

Answer 1

This sum will be solved in two parts. In 1st part, we find the C.P. and in 2nd part, we find the required S.P.
Part I:
S.P .of the air cooler = Rs 6800
Loss = 15% i.e, for every Rs 100 he is losing Rs 15.
$\therefore$ If C.P. is Rs 100, then S.P. Rs 100- Rs 15 = Rs 85
$\therefore$ If S.P is Rs 85, then C.P. = Rs 100
If S.P. is Rs 1, then C.P. = Rs $\frac{100}{85}$
If S.P. is Rs 6800, then C.P = Rs $\frac{100}{85}\times 6800=Rs100\times 80=Rs8000.$

Part II:
C.P. = Rs 8000
Profit = 10%
$\therefore$ Profit = 10% of Rs 8000 =$\frac{10}{100}\times 8000=Rs800$
$\therefore$ S.P. = C.P. + Profit = Rs 8000 + Rs 800 = Rs 8800.
Hence, the air-cooler should be sold for Rs 8,800 in order to make a profit of 10%