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By selling an article for Rs. 4312, a garment dealer incurs a loss of 12%.At what price should he sell it, so that he earns a profit of 10%?
1. Rs. 4580
2. Rs. 5390
3. Rs. 4500
4. Rs. 3450

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Correct Answer - Option 2 : Rs. 5390

Given

Selling price = Rs. 4312

Loss = 12%

Formula used

CP = SP × 100/(100 – L%)

SP = CP × (100 + P%)/100

CP → Cost price, SP → Selling price, P → Profit and L → Loss

Calculation

CP = 4312 × 100/(100 – 12)

⇒ CP = 4900

New SP will be 4900 × (100 + 10)/100.

⇒ New SP = 4900 × 11/10

⇒ New SP = 5390

∴ He should sell an article at Rs. 5390 to gain 10%

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