Question : By selling a table for Rs. 1140, a man loses 5%. In order to gain 5%, the table must be sold for ?
Option 1: Rs. 1260
Option 2: Rs. 1320
Option 3: Rs. 1180
Option 4: Rs. 1250
Correct Answer: Rs. 1260
Solution :
Here CP denotes cost price and SP denotes selling price.
CP = SP$(\frac{100}{100-Loss\%})$
⇒ CP = 1140$(\frac{100}{100-5})$
⇒ CP = 1140$(\frac{100}{95})$
⇒ CP = Rs. 1200
Also, SP = CP$(\frac{100+Profit\%}{100})$
⇒ SP = 1200$(\frac{100+5}{100})$
⇒ SP = 1200$(\frac{105}{100})$
⇒ SP = Rs. 1260
Hence, the correct answer is Rs. 1260.
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