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Question
An article is bought for ₹5,700 and ₹1,300 is spent on its repairing, transportion, etc. For how much should this article be sold in order to gain 20% on the whole.
Solution
C.P. of an article = ₹ 5700
Amount spent on repair = ₹ 1300
Total cost price (C.P.) = ₹ 5700 + ₹ 1300 = ₹ 7000
Gain = 20%
∴ S.P. of an article = `("C.P." xx (100 + "Gain%"))/100`
`= ₹ (7000 xx (100 + 20))/100`
`= ₹ (7000 xx 120)/100`
`= ₹ 840000/100`
= ₹ 8400
∴ Selling price of an article (S.P.) = ₹ 8400
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