Question

Fill in the blanks to make the statement true: Aahuti purchased a house for $₹50,59,700$ and spent $₹40300$ on its repairs.

To make a profit of $5\%$, she should sell the house for ₹ ________

Answer 1

Step 1: Compute the total cost:

From the given question:

The cost price of the house purchased by Aahuti = $₹50,59,700$

Amount spent to repair the house = $₹40,300$

Then, the total cost of the house is

$50,59,700+40,300=51,00,000$

Step 2: Compute the profit:

Now, we need to find at what price he needs to sell so that he will gain a $5\%$ profit.

Since the formula for-profit percentage is

$Profit\%=\frac{profitammount}{total\cos tprice}\times 100$

We can write that

$$\begin{gathered} 5=\frac{x}{51,00,000}\times 100 \\ \frac{5}{100}=\frac{x}{51,00,000} \end{gathered}$$

$$\begin{gathered} x=\frac{5}{100}\times 51,00,000 \\ x=5\times 51,000 \\ x=2,55,000 \end{gathered}$$

Step 3: Compute the selling price:

We know that

Profit $=$selling price $-$ cost price

That is

$\begin{array}{rcl}2,55,000& =& x-51,00,000\\ 2,55,000+51,00,000& =& x\\ 53,55,000& =& x\end{array}$

Hence, the selling price of the house is $₹53,55,000$.