If a saree is sold for Rs 1900 the seller will face 5% loss, at what price (in Rs) should he sell the saree to gain 15% profit?Options2300240022002500
Question
If a saree is sold for Rs 1900 the seller will face 5% loss, at what price (in Rs) should he sell the saree to gain 15% profit?Options2300240022002500
Solution
To solve this problem, we first need to find the cost price of the saree.
Given that the seller faces a 5% loss when the saree is sold for Rs 1900, we can set up the following equation:
Cost Price (CP) = Selling Price (SP) / (1 - Loss%)
Here, the Selling Price (SP) is Rs 1900 and the Loss% is 5% or 0.05.
So,
CP = 1900 / (1 - 0.05) = 1900 / 0.95 = Rs 2000
Now, to find the selling price for a 15% profit, we use the formula:
Selling Price (SP) = Cost Price (CP) * (1 + Profit%)
Here, the Cost Price (CP) is Rs 2000 and the Profit% is 15% or 0.15.
So,
SP = 2000 * (1 + 0.15) = 2000 * 1.15 = Rs 2300
Therefore, the seller should sell the saree for Rs 2300 to gain a 15% profit.
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