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A cycle is sold for 800 at a loss of 20%. By how much it should be sold to gain 10%?
Verified Answer
A cycle is sold for 800 at a loss of 20%. By how much it should be sol...
Step-by-step explanation:
Here SP = Rs. 800
Loss = 20%
Let CP was x
And we know that
CP - Loss = SP
∴ x - 20% of x = 800
x - (20/100)x = 800
x - x/5 = 800
4x/5 = 800
x = (800 x 5)/4
x = 1000
∴ CP of the cycle is Rs.1000
Now to make a profit of 10%
SP = CP + 10% of CP
= 1000 + (10/100)x1000
= 1000 + 100
= 1100
∴ To make a profit of 10% the cycle should be sold for Rs.1100
This question is part of UPSC exam. View all Class 7 courses
Most Upvoted Answer
A cycle is sold for 800 at a loss of 20%. By how much it should be sol...
Calculating the Selling Price to Gain 10%:
Given:
- Selling price at a loss of 20% = $800
Step 1: Calculate the Cost Price:
To find the selling price to gain 10%, we first need to calculate the cost price of the cycle.
Formula:
Selling Price = Cost Price + Profit
Given that the selling price at a loss of 20% is $800, we can write the equation as:
$800 = Cost Price - (20/100) * Cost Price
Simplifying the equation:
$800 = Cost Price * (1 - 20/100)
$800 = Cost Price * (1 - 0.2)
$800 = Cost Price * 0.8
Now, we can solve for the cost price:
Cost Price = $800 / 0.8
Cost Price = $1000
Therefore, the cost price of the cycle is $1000.
Step 2: Calculate the Selling Price to Gain 10%:
Now that we have the cost price, we can calculate the selling price to gain 10%.
Formula:
Selling Price = Cost Price + Profit
Given that we want to gain 10% profit, we can write the equation as:
Selling Price = $1000 + (10/100) * $1000
Selling Price = $1000 + $100
Simplifying the equation:
Selling Price = $1100
Therefore, the cycle should be sold for $1100 to gain a 10% profit.
Explanation:
- The given information states that the cycle is sold at a loss of 20% for $800. This means the selling price is 80% of the cost price.
- To calculate the cost price, we use the formula: Selling Price = Cost Price * (1 - Loss/100).
- By substituting the given values, we can find the cost price of the cycle, which is $1000.
- To find the selling price to gain 10% profit, we use the formula: Selling Price = Cost Price + Profit.
- By substituting the cost price and profit percentage, we can calculate the selling price, which is $1100.
- Therefore, to gain a 10% profit, the cycle should be sold for $1100.
Given:
- Selling price at a loss of 20% = $800
Step 1: Calculate the Cost Price:
To find the selling price to gain 10%, we first need to calculate the cost price of the cycle.
Formula:
Selling Price = Cost Price + Profit
Given that the selling price at a loss of 20% is $800, we can write the equation as:
$800 = Cost Price - (20/100) * Cost Price
Simplifying the equation:
$800 = Cost Price * (1 - 20/100)
$800 = Cost Price * (1 - 0.2)
$800 = Cost Price * 0.8
Now, we can solve for the cost price:
Cost Price = $800 / 0.8
Cost Price = $1000
Therefore, the cost price of the cycle is $1000.
Step 2: Calculate the Selling Price to Gain 10%:
Now that we have the cost price, we can calculate the selling price to gain 10%.
Formula:
Selling Price = Cost Price + Profit
Given that we want to gain 10% profit, we can write the equation as:
Selling Price = $1000 + (10/100) * $1000
Selling Price = $1000 + $100
Simplifying the equation:
Selling Price = $1100
Therefore, the cycle should be sold for $1100 to gain a 10% profit.
Explanation:
- The given information states that the cycle is sold at a loss of 20% for $800. This means the selling price is 80% of the cost price.
- To calculate the cost price, we use the formula: Selling Price = Cost Price * (1 - Loss/100).
- By substituting the given values, we can find the cost price of the cycle, which is $1000.
- To find the selling price to gain 10% profit, we use the formula: Selling Price = Cost Price + Profit.
- By substituting the cost price and profit percentage, we can calculate the selling price, which is $1100.
- Therefore, to gain a 10% profit, the cycle should be sold for $1100.
Community Answer
A cycle is sold for 800 at a loss of 20%. By how much it should be sol...
1100
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A cycle is sold for 800 at a loss of 20%. By how much it should be sold to gain 10%?
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A cycle is sold for 800 at a loss of 20%. By how much it should be sold to gain 10%? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A cycle is sold for 800 at a loss of 20%. By how much it should be sold to gain 10%? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A cycle is sold for 800 at a loss of 20%. By how much it should be sold to gain 10%?.
A cycle is sold for 800 at a loss of 20%. By how much it should be sold to gain 10%? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A cycle is sold for 800 at a loss of 20%. By how much it should be sold to gain 10%? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A cycle is sold for 800 at a loss of 20%. By how much it should be sold to gain 10%?.
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