Profit and Loss Practice Test 10

Question : 5 of 28

Marks: +1, -0

A merchant fixed the selling price of his articles at Rs 700 after adding 40% profit to the cost price. As the sale was very low at this price level, he decided to fix the selling price at 10% profit. Find the new selling price.

Rs 500
Rs 550
Rs 450
Rs 490

Validate

Solution:

\table CP ,SP ,\Profit %;x ,700, 40%

SP = x + 40% of x

700=x+{40x}/100

x=500

Cost price = Rs 500
New sale price

= 500+10/100 ×500=550

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