Question

By selling tie for Rs.648, a shopkeeper gains 8%. At what price should he sell the tie to gain 10%?

Answer 1

S.P. of a tie = Rs.648

Gain = 8%

`"S.P."/"C.P." = 1 + "Profit"/(100)`

⇒ `(648)/"C.P." = 1 + (8)/(100)`

⇒ `(648)/"C.P." = (100 + 8)/(100)`

⇒ C.P. = `(100)/(108) xx 648`

= Rs.600

Now, C.P. of the tie = Rs.600
Gain = 10%

∴ Gain= `(10)/(100) xx "C.P."`

∴ Gain = `(10)/(100) xx 600`

= Rs.60

∴ S.P.
= Rs.(600 + 60)
= Rs.660
He must sell the tie at Rs.660 to make a gain of 10%.