Madhya Pradesh Police Exam Model Paper 9

Question : 61 of 100

Marks: +1, -0

By selling a plot of land for Rs. 45,000 a person loses 10%. At what price should he sell it to gain 15%?

Rs. 60,000
Rs. 57,500
Rs. 55,000
Rs. 50,000

Solution:

Given:
Selling price of the land = Rs. 45,000
Loss% = 10%
Formula used:
CP = SP × 100/(100 – L%)SP = CP × (100 + P%)/100Here SP → Selling Price, CP → Cost Price, L% → Loss%, P% → Profit%Calculation:
CP

= 45000 × 100{/}(100 – 10)

⇒ CP

= 45000 × 10{/}9 = 50,000

New Selling price

= CP × (100 + 15){/}100

⇒ New Selling price

= 50000 × 115{/}100

⇒ New Selling price

= 57500

∴ He should sell the land for Rs. 57,500 to gain 15%

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