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Question
A man sells a radio-set for Rs.605 and gains 10%. At what price should he sell another radio of the same kind, in order to gain 16%?
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Solution
In the first condition:
S.P. of a radio-set = Rs.605
Gain = 10%
C.P. =`100/((100+"gain"%))xx"S.P."`
`=100/((100+10))xx"Rs."605`
= Rs. `100/110xx605`
= Rs. `(100xx605)/110`
= 10 × 55
= Rs.550
In the second condition:
C.P. = Rs.550
Gain = 16%
S.P. =`((100+"gain"%))/100xx"C.P."`
`=((100+16))/100xx"Rs."550`
= Rs. `116/100xx550`
= Rs. `(116xx550)/100`
= 58 × 11
= Rs.638
∴ Radio should be sold at Rs.638.
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