Mr. Nath, A NRI wan to invest his money in India. He buys a plot of land in Greater Noida worth Rs. 56,00,000. After sometime, he sells 2/5th of land but he had a loss of 8% in this deal. Now he want to make a profit of 20% on the whole transaction by selling the remaining part of the land. Find at what percentage profit should he sell his remaining land ?

142/5%
30%
24%
116/3%

LohaHridoy

5 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 4 : 116/3%

Given∶

Cost of land, C.P.= Rs. 56,00,000

2/5th of the land was sold out at a loss of 8%

He want to make a profit of 20% on the whole transaction by selling the remaining part of the land.

Formula Used∶

P% = (P/C.P.) × 100

Basics of Profit & Loss and Percentage

Calculation∶

In this case, required P% on the C.P. is independent of C.P.

Let cost of land Rs. 56,00,000 = C.P.

In 1st sale, amount of 8% loss = 0.08 × 2/5 C.P. = 0.032 C.P.

Mr. Nath's target profit = 20% of C.P. = 0.2 C.P.

To compensate fo the loss of loss in the 1st sale,

Gain for 2nd sale = 0.032 C.P. + 0.2 C.P. = 0.232 C.P.

Remaining part of land = 1 - 2/5 = 3/5

Cost of the land on 2nd sale = 3/5 × C.P. = 0.6 C.P.

Required P% on 2nd sale = (0.232 C.P./ 0.6 C.P.) × 100 = 232/6 = 116/3

∴ He should sell his remaining land at a profit of 116/3%.

5 views Answered 2022-09-04 04:29

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