A man sells a cow for Rs. 22,000 and gains 10%. At what price should he sell the same cow, in order to gain 14%?
- ARs. 23,800
- BRs. 23,000
- CRs. 22,800
- DRs. 22,900
Solution & Step-by-step Explanation
Let the cost price of the cow be CP.
Given that selling at Rs. 22,000 yields a gain of 10%:
SP
1
=110% of CP=22,000
CP=
1.10
22,000
=Rs. 20,000
To gain 14%, the new selling price (SP
2
) should be:
SP
2
=114% of CP
SP
2
=
100
114
×20,000=114×200=Rs. 23,800
Given that selling at Rs. 22,000 yields a gain of 10%:
SP
1
=110% of CP=22,000
CP=
1.10
22,000
=Rs. 20,000
To gain 14%, the new selling price (SP
2
) should be:
SP
2
=114% of CP
SP
2
=
100
114
×20,000=114×200=Rs. 23,800