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By selling an article for Rs. 720, a man loses 10%. At what price should he sell it to gain 5%?


1. Rs. 840
2. Rs. 890
3. Rs. 1000
4. Rs. 995

1 Answer

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Best answer
Correct Answer - Option 1 : Rs. 840

Given

By selling an article for Rs.720 a man loses 10%

Concept used

Profit and loss

Calculation

Loss = 10%

SP = 9 unit; CP = 10 unit

SP = Rs.720

9 unit = Rs.720

1 unit = 80

CP = 80 × 10

Cp = Rs.800

To gain 5% it should be sold at

SP = \(\frac{{800}}{{20}} × 21\)

SP = 40 × 21

SP = Rs.840

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