A boy incurs 5% loss by selling a book for Rs.1000. At what price should the book be sold to earn 5% profit?Options10001200None of these1105.26
Question
A boy incurs 5% loss by selling a book for Rs.1000. At what price should the book be sold to earn 5% profit?Options10001200None of these1105.26
Solution
The boy incurs a 5% loss by selling the book for Rs.1000. This means that Rs.1000 is 95% of the cost price of the book.
Step 1: Let's find the cost price first. If 95% of the cost price is Rs.1000, then the cost price (100%) can be calculated as follows:
Cost Price = (100 / 95) * 1000 = Rs.1052.63 (approximately)
Step 2: Now, to earn a 5% profit, the selling price should be 105% of the cost price.
Selling Price = 105% of Cost Price = (105 / 100) * 1052.63 = Rs.1105.26 (approximately)
So, the book should be sold for approximately Rs.1105.26 to earn a 5% profit. Therefore, the correct option is 1105.26.
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