When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?
papay dey Answered question February 17, 2025
Let’s denote the Cost Price (CP) of the plot as x.
Since the owner loses 15% when selling at Rs. 18,700:
Loss = 15% of CP = 0.15x
Selling Price (SP) = CP – Loss
18700 = x – 0.15x
18700 = 0.85x
Rearrange the equation:
x = 18700 / 0.85
x = 22000
So, the Cost Price is Rs. 22,000.
To gain 15%, the Selling Price should be:
SP = CP + 15% of CP
= 22000 + 0.15(22000)
= 22000 + 3300
= 25300
The plot must be sold for Rs. 25,300 to gain 15%.
papay dey Answered question February 17, 2025
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