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Select the correct answerA shopkeeper sells an item at Rs 36 and incurs a loss of 10%. At what price should the shopkeeper sell it to gain 30% ?Options525634None of these

Question

Select the correct answerA shopkeeper sells an item at Rs 36 and incurs a loss of 10%. At what price should the shopkeeper sell it to gain 30% ?Options525634None of these

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Solution

To solve this problem, we first need to find the cost price of the item for the shopkeeper.

Given that the shopkeeper incurs a loss of 10%, it means that Rs 36 represents 90% of the cost price.

So, we can set up the equation:

90/100 * Cost Price = Rs 36

Solving for Cost Price gives us:

Cost Price = Rs 36 / (90/100) = Rs 40

Now, the shopkeeper wants to gain 30%. This means the selling price should be 130% of the cost price.

So, the new selling price should be:

130/100 * Cost Price = New Selling Price

Substituting the cost price we found earlier:

130/100 * Rs 40 = Rs 52

So, the shopkeeper should sell the item for Rs 52 to gain a profit of 30%.

Therefore, the correct answer is Rs 52.

This problem has been solved

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