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By selling a TV at Rs. 25000, a dealer suffers a loss of 12%. At what price (In Rs.) should he sell it to gain 10%?
1. 31250
2. 32000
3. 32250
4. 30250

1 Answer

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Best answer
Correct Answer - Option 1 : 31250

GIVEN:

By selling a TV at Rs. 25000, a dealer suffers a loss of 12%.

CONCEPT:
Basic concept of Profit and Loss.

FORMULA USED:

SP = CP × [1 – loss]/100

SP = CP × [1 + profit]/100

CALCULATION:

Let the cost price of the TV be x.

Now, by selling at Rs. 25000, a loss of 12% is incurred.

Hence,

(1 – 12/100)x = 25000

⇒ x = 25000/0.88

Now, to make a profit of 10%, he should sell it at (1 + 10/100)x

= 110/100 × (25000/0.88)

= Rs. 31250

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