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?Options10001200None of these1105.26
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?Options10001200None of these1105.26
Solution
The solution to this problem involves a few steps:
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First, we need to find the cost price of the book. If the boy incurs a 5% loss by selling the book for Rs.1000, that means Rs.1000 is 95% of the cost price. We can set up the equation 1000 = 0.95 * cost price. Solving for the cost price gives us Rs.1052.63.
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Next, we need to find the selling price that would give a 5% profit. This would be 105% of the cost price, or 1.05 * 1052.63 = Rs.1105.26.
So, the book should be sold for Rs.1105.26 to earn a 5% profit. The correct answer is Rs.1105.26.
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