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Kabir sold his old washing machine for Rs. 10500 which he bought 6 months before, on that washing machine he incurred a loss of 20%. To gain 20% profit at what price he needs to sell the washing machine.

Kabir sold his old washing machine for Rs. 10500 which he bought 6 months before, on that washing machine he incurred a loss of 20%. To gain 20% profit at what price he needs to sell the washing machine. Correct Answer 15750

Given

Selling price of washing machine = Rs. 10500

Loss percentage on selling washing machine = 20%

Profit Kabir wants = 20%

Formula used

Cost price = (Selling Price × 100)/ (100 – percentage loss)

Selling Price = Cost Price × (100 + percentage profit)/100

Calculation

According to question

Cost price = (10500 × 100)/ (100 – 20)

⇒ Cost price = 1050000/80 = Rs. 13125

For gain profit of 20%

⇒ Selling Price = Cost Price × (100 + percentage profit)/100

⇒ Selling Price = 13125 × (100 + 20)/100 = Rs. 15750

∴ Selling price of the washing machine to gain 20% is Rs. 15750.

Shortcut Trick

Let CP be Rs. 100x

So, SP at 20% loss = 80x

and SP at 20% profit = 120x

Now, 80x = Rs. 10,500

⇒ 120x = Rs. (10,500/80x) × 120x

⇒ Rs. 15,750

∴ Selling price of the washing machine to gain 20% is Rs. 15750.

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