On selling a table fan at Rs. 2,827.06, the value of gain is 14% more than the value of loss incurred on selling it at Rs. 2,230. In order to gain 14%, the selling price will be:

Question

Question

This question was previously asked in

SSC GD Constable (2022) Official Paper (Held On : 10 Jan 2023 Shift 2)

Answer 1

Given :

When article sold at Rs. 2,827.06 it gains 14% more than value when article sold at Rs. 2230 it losses

Formula used :

Loss = cost price - selling price

Gain = selling price - cost price

Gain% = (Gain/cost price) × 100

Solution :

Let the cost price be x

It losses when selling price = Rs. 2230

⇒ Loss = (x - 2230) ----(1)

It gains when selling price = Rs. 2827.06

⇒ Gain = (2827.06 - x)

According to the question,

(2827.06 - x) = (x - 2230) × (114/100)

⇒ 282706 - 100x = 114x - 254220

⇒ 214x = 536926

⇒ x = 2509

So, cost price = Rs. 2509

Now,

Profit = 14%

⇒ SP = 114 × 2509/100

⇒ Rs. 2860.26

∴ The selling price will be Rs. 2860.26

Shortcut Trick

Let the cost price be x.

Gain = (2827.06 - x) and Loss = (x - 2230)

According to the question.

⇒ (2827.06 - x) = (x - 2230) × (114/100)

⇒ 282706 - 100x = 114x - 254220

⇒ 214x = 536926

⇒ x = 2509

New SP = 114 × 2509/100 = Rs. 2860.26

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