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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% ?Options563452None 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% ?Options563452None 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% when selling the item at Rs 36, we can set up the following equation:

Cost Price (CP) = Selling Price (SP) / (1 - Loss%)

Here, the Selling Price (SP) is Rs 36 and the Loss% is 10% or 0.10.

So,

CP = 36 / (1 - 0.10) = 36 / 0.90 = Rs 40

Now, to find the price at which the shopkeeper should sell the item to gain a profit of 30%, we use the formula:

Selling Price (SP) = Cost Price (CP) * (1 + Profit%)

Here, the Cost Price (CP) is Rs 40 and the Profit% is 30% or 0.30.

So,

SP = 40 * (1 + 0.30) = 40 * 1.30 = Rs 52

Therefore, the shopkeeper should sell the item at Rs 52 to gain a profit of 30%. So, the correct answer is 'None of these'.

This problem has been solved

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