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Question

A vendor sells oranges at ₹44 each and incurs a loss of 78%. If he wants to make a profit of 78%, at what price (in ₹) should he sell each orange?

The correct answer is
356

This question asks us to determine the new selling price for an orange if the vendor wants to achieve a 78% profit, given that the current selling price of ₹44 results in a 78% loss.

Calculating the Cost Price (CP) of the Orange

First, we need to find the original cost price (CP) of the orange. The vendor sells the orange for ₹44, incurring a loss of 78%. This means the selling price (SP1) represents the remaining percentage of the cost price after the loss.

  • Loss percentage = $78\%$
  • The selling price is $(100 - 78)\% = 22\%$ of the cost price.
  • Current Selling Price (SP1) = $₹44$

We can set up the equation:

SP1 = CP $\times$ $\frac{100 - \text{Loss}\%}{100}$

Substituting the values:

$₹44 = \text{CP} \times \frac{100 - 78}{100}$

$₹44 = \text{CP} \times \frac{22}{100}$

Now, we solve for CP:

$\text{CP} = \frac{₹44 \times 100}{22}$

$\text{CP} = ₹2 \times 100$

$\text{CP} = ₹200$

So, the cost price of each orange is ₹200.

Calculating the New Selling Price (SP2) for a 78% Profit

Next, we need to calculate the selling price (SP2) required to make a profit of 78%. A profit of 78% means the selling price will be the cost price plus 78% of the cost price.

  • Cost Price (CP) = $₹200$
  • Desired Profit percentage = $78\%$

The formula for the new selling price is:

SP2 = CP $\times$ $\frac{100 + \text{Profit}\%}{100}$

Substituting the values:

$\text{SP2} = ₹200 \times \frac{100 + 78}{100}$

$\text{SP2} = ₹200 \times \frac{178}{100}$

$\text{SP2} = ₹2 \times 178$

$\text{SP2} = ₹356$

Therefore, the vendor should sell each orange for ₹356 to make a profit of 78%.

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Important Questions from Profit and Loss

  1. Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?

  2. A man sells a car to his friend at the loss of 10 %; who in return sells it for Rs. 54000 making a profit of 20 %. What was the initial value of the car?

  3. An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:

  4. The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?

  5. If the selling price of 7 articles is equal to the cost price of 6 articles, then what is the percentage loss?

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