Question
Download Solution PDFBy selling 200 bags for Rs. 380 a retailer loses 5 percent. To make a profit of 40 percent, how many bags should he sell for Rs. 196?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
SP of 200 bags = ₹380 → Loss = 5%
Target Profit = 40%
New SP = ₹196
Formula used:
SP = (1 ± Gain/Loss%) × CP
Calculation:
Let CP of 200 bags = x
⇒ 380 = 95% of x = (95/100) × x
⇒ x = (380 × 100) / 95 = 400
So, CP of 200 bags = ₹400 ⇒ CP of 1 bag = 400 / 200 = ₹2
To gain 40%, SP per bag = 2 × (140/100) = ₹2.8
Now, for ₹196, number of bags = 196 / 2.8 = 70
∴ He should sell 70 bags for ₹196 to make 40% profit
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