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A person sold a stove for Rs.423 and incurred a loss of 6%.At what price would it be sold so as to earn a profit of 8%?Rs.525Rs.500Rs.490Rs.486

Question

A person sold a stove for Rs.423 and incurred a loss of 6%.At what price would it be sold so as to earn a profit of 8%?Rs.525Rs.500Rs.490Rs.486

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Solution

To solve this problem, we first need to find the cost price of the stove.

Given that the person incurred a loss of 6% when selling the stove for Rs.423, we can set up the following equation to find the cost price (CP):

CP - 6% of CP = Rs.423 CP(1 - 0.06) = Rs.423 CP = Rs.423 / 0.94 CP = Rs.450

Now, to find the selling price that would give an 8% profit, we can use the following equation:

Selling Price = CP + 8% of CP Selling Price = Rs.450 + 0.08 * Rs.450 Selling Price = Rs.450 + Rs.36 Selling Price = Rs.486

So, the stove would need to be sold for Rs.486 to earn a profit of 8%. The correct answer is Rs.486.

This problem has been solved

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