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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. Ram bought a chair at 35% discount on its market price, Had Ram got no discount, he would have had to pay ₹245 more. How much did Ram pay for the chair? 

  2. A shopkeeper bought an item for Rs. 4,500 and sold it at a loss of 5%. From this money, he bought another item and sold it at a profit of 10%. What is his overall profit?

  3. A man sells two articles at Rs. 9,180 each. He gains 8% on one article and loses 15% on the other. His overall profit or loss is:

  4. A shopkeeper selling an article for ₹46 loses 8%. In order to gain 6%, what should be the selling price of the article?

  5. Rahul purchased 80 items from the market. 25% items of the total items were defective and the remaining items were sold at 50% profit. What will be the overall profit percentage?

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