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
Solution
The correct answer is Rs. 1105.26.
Here's the step-by-step solution:
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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.
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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.
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Now, to find the selling price that would result in a 5% profit, we need to calculate 105% of the cost price.
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So, the selling price should be Rs. 952.38 * (105/100) = Rs. 1105.26.
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