Sekhar lost 6% by selling his motorcycle for Rs. 66,411. At what price should he sold to get a profit of 6% ? 

This question was previously asked in
Kerala PSC Common Preliminary Exam (GRADUATE LEVEL) PYP - 127/22
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  1. Rs. 68,427
  2. Rs. 74,200
  3. Rs. 74,889
  4. Rs. 73,427

Answer (Detailed Solution Below)

Option 3 : Rs. 74,889
Free
Indian Polity
20 Qs. 20 Marks 18 Mins

Detailed Solution

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Given:

Selling Price (SP) = ₹66,411

Loss Percentage = 6%

Desired Profit Percentage = 6%

Formula Used:

Cost Price (CP) = SP × 100 / (100 - Loss Percentage)

Selling Price for Profit = CP × (100 + Profit Percentage) / 100

Calculation:

CP = 66411 × 100 / (100 - 6)

CP = 66411 × 100 / 94

CP = 6641100 / 94

CP = ₹70,650

Selling Price for Profit = 70650 × (100 + 6) / 100

Selling Price for Profit = 70650 × 106 / 100

Selling Price for Profit = 70650 × 1.06

Selling Price for Profit = ₹74,889

∴ Sekhar should sell his motorcycle for ₹74,889 to get a profit of 6%.

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Last updated on Feb 11, 2025

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