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A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.
- a)1200
- b)1260
- c)1280
- d)1240
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
A person incurs a loss of 5% be selling a watch for Rs. 1140. At what ...
Let the new S.P. be x, then.
(100 - loss%):(1st S.P.) = (100 + gain%):(2nd S.P.)
=>(951140=105x)=>x=1260
(100 - loss%):(1st S.P.) = (100 + gain%):(2nd S.P.)
=>(951140=105x)=>x=1260
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A person incurs a loss of 5% be selling a watch for Rs. 1140. At what ...
Understanding the Loss
To find the cost price (CP) of the watch, we first have to understand the situation of the loss incurred. The person sells the watch at a loss of 5%, which means:
- Selling Price (SP) = CP - Loss
- Since the loss is 5%, we can express it as 5% of CP.
Let's denote CP as 'x'.
Calculating the Cost Price
From the information given:
- SP = 1140
- Loss = 5% of x = 0.05x
Now, we can set up the equation:
SP = CP - Loss
1140 = x - 0.05x
1140 = 0.95x
To find CP (x), we rearrange the equation:
x = 1140 / 0.95
x = 1200 (This is the cost price of the watch)
Calculating the Selling Price for Profit
Now, we need to determine the selling price at which a 5% profit is earned.
- Profit = 5% of CP = 0.05 * 1200 = 60
To find the new selling price (SP) for a 5% profit:
SP = CP + Profit
SP = 1200 + 60
SP = 1260
Conclusion
Thus, the watch should be sold for Rs. 1260 to earn a 5% profit. The correct answer is option 'B'.
To find the cost price (CP) of the watch, we first have to understand the situation of the loss incurred. The person sells the watch at a loss of 5%, which means:
- Selling Price (SP) = CP - Loss
- Since the loss is 5%, we can express it as 5% of CP.
Let's denote CP as 'x'.
Calculating the Cost Price
From the information given:
- SP = 1140
- Loss = 5% of x = 0.05x
Now, we can set up the equation:
SP = CP - Loss
1140 = x - 0.05x
1140 = 0.95x
To find CP (x), we rearrange the equation:
x = 1140 / 0.95
x = 1200 (This is the cost price of the watch)
Calculating the Selling Price for Profit
Now, we need to determine the selling price at which a 5% profit is earned.
- Profit = 5% of CP = 0.05 * 1200 = 60
To find the new selling price (SP) for a 5% profit:
SP = CP + Profit
SP = 1200 + 60
SP = 1260
Conclusion
Thus, the watch should be sold for Rs. 1260 to earn a 5% profit. The correct answer is option 'B'.
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A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.a)1200b)1260c)1280d)1240Correct answer is option 'B'. Can you explain this answer?
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