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By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?
- a)Rs. 12,550
- b)Rs. 11,550
- c)Rs. 12,000
- d)Rs. 10,500
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
By selling a used phone for Rs. 6160, Rajan got 44% less than what it ...
By selling a used phone for Rs. 6160, Rajan got 44% less than the cost price of the phone,
Let the cost price of the phone be ‘x’,
⇒ 56x/100 = 6160
⇒ x = 11,000
To make a profit of 5%,
⇒ Selling price = 11000 × 105/100 = Rs. 11,550
Let the cost price of the phone be ‘x’,
⇒ 56x/100 = 6160
⇒ x = 11,000
To make a profit of 5%,
⇒ Selling price = 11000 × 105/100 = Rs. 11,550
Most Upvoted Answer
By selling a used phone for Rs. 6160, Rajan got 44% less than what it ...
Understanding the Problem
To solve this problem, we first need to determine the original cost price of the phone based on the selling price and the percentage loss.
Step 1: Calculate the Cost Price (CP)
- Rajan sold the phone for Rs. 6160.
- He incurred a loss of 44%, which means he sold it for 56% (100% - 44%) of the cost price.
Using the formula for selling price:
Selling Price = Cost Price × (1 - Loss Percentage)
- Here, 56% as a decimal is 0.56.
So, we can set up the equation:
6160 = CP × 0.56
To find CP, rearranging gives:
CP = 6160 / 0.56
Calculating this gives:
CP = Rs. 11,000
Step 2: Determine Selling Price for a 5% Profit
Now, we want to find the selling price that would give Rajan a 5% profit.
- A 5% profit means selling at 105% of the cost price.
Using the formula for selling price again:
Selling Price = CP × (1 + Profit Percentage)
- Here, 105% as a decimal is 1.05.
So we calculate:
Selling Price = 11,000 × 1.05
Calculating this gives:
Selling Price = Rs. 11,550
Conclusion
To achieve a 5% profit, Rajan should have been able to sell the phone for Rs. 11,550. Thus, the correct answer is option 'B'.
To solve this problem, we first need to determine the original cost price of the phone based on the selling price and the percentage loss.
Step 1: Calculate the Cost Price (CP)
- Rajan sold the phone for Rs. 6160.
- He incurred a loss of 44%, which means he sold it for 56% (100% - 44%) of the cost price.
Using the formula for selling price:
Selling Price = Cost Price × (1 - Loss Percentage)
- Here, 56% as a decimal is 0.56.
So, we can set up the equation:
6160 = CP × 0.56
To find CP, rearranging gives:
CP = 6160 / 0.56
Calculating this gives:
CP = Rs. 11,000
Step 2: Determine Selling Price for a 5% Profit
Now, we want to find the selling price that would give Rajan a 5% profit.
- A 5% profit means selling at 105% of the cost price.
Using the formula for selling price again:
Selling Price = CP × (1 + Profit Percentage)
- Here, 105% as a decimal is 1.05.
So we calculate:
Selling Price = 11,000 × 1.05
Calculating this gives:
Selling Price = Rs. 11,550
Conclusion
To achieve a 5% profit, Rajan should have been able to sell the phone for Rs. 11,550. Thus, the correct answer is option 'B'.
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Community Answer
By selling a used phone for Rs. 6160, Rajan got 44% less than what it ...
By selling a used phone for Rs. 6160, Rajan got 44% less than the cost price of the phone,
Let the cost price of the phone be ‘x’,
⇒ 56x/100 = 6160
⇒ x = 11,000
To make a profit of 5%,
⇒ Selling price = 11000 × 105/100 = Rs. 11,550
Let the cost price of the phone be ‘x’,
⇒ 56x/100 = 6160
⇒ x = 11,000
To make a profit of 5%,
⇒ Selling price = 11000 × 105/100 = Rs. 11,550
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By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer?
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By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer?.
By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer?.
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By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer?, a detailed solution for By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of By selling a used phone for Rs. 6160, Rajan got 44% less than what it cost him to buy it a few years ago. At what price should Rajan have been able to sell it to make a profit of 5%?a)Rs. 12,550b)Rs. 11,550c)Rs. 12,000d)Rs. 10,500Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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