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Select the correct answerA boy incurs 5% loss by selling a book for Rs.1000. At what price should the book be sold to earn 5% profit?Options12001105.261000None of these

Question

Select the correct answerA boy incurs 5% loss by selling a book for Rs.1000. At what price should the book be sold to earn 5% profit?Options12001105.261000None of these

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Solution

The correct answer is Rs. 1105.26.

Here's the step-by-step solution:

  1. First, find the cost price of the book. If selling the book at Rs. 1000 results in a 5% loss, that means the cost price of the book is 100% + 5% = 105% of Rs. 1000.

  2. To find the cost price, we can set up the equation: 105/100 = cost price/1000. Solving for the cost price, we get Rs. 1000 * (100/105) = Rs. 952.38.

  3. Now, to find the selling price that would result in a 5% profit, we need to calculate 105% of the cost price.

  4. So, the selling price should be Rs. 952.38 * (105/100) = Rs. 1105.26.

This problem has been solved

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