Phone Profit and Loss Calculation
This problem involves calculating the cost price (CP) and the required selling price (SP) based on given profit and loss percentages.
Finding the Cost Price (CP)
Let the Cost Price of the phone be $CP$.
- Initially, Ramesh sold at a 5% loss. The Selling Price ($SP_1$) is: $SP_1 = CP \times (1 - \frac{5}{100}) = CP \times 0.95$
- If he sold it for Rs. 200 more, he would have gained 15%. The Selling Price ($SP_2$) would be: $SP_2 = CP \times (1 + \frac{15}{100}) = CP \times 1.15$
- The difference between these two selling prices is Rs. 200: $SP_2 - SP_1 = 200$
- Substitute the expressions for $SP_1$ and $SP_2$: $(CP \times 1.15) - (CP \times 0.95) = 200$
- Factor out CP: $CP \times (1.15 - 0.95) = 200$ $CP \times 0.20 = 200$
- Solve for CP: $CP = \frac{200}{0.20} = \frac{200}{1/5} = 200 \times 5 = 1000$ So, the Cost Price of the phone is Rs. 1000.
Calculating the Target Selling Price
Ramesh wants to gain 25%. We need to find the new Selling Price ($SP_3$) for this target gain.
- Target Gain = 25%
- $SP_3 = CP \times (1 + \frac{25}{100})$
- Substitute the CP value: $SP_3 = 1000 \times (1 + 0.25)$ $SP_3 = 1000 \times 1.25$ $SP_3 = 1250$
Therefore, to gain 25%, Ramesh should sell the phone for Rs. 1250.
Similar Questions
- I bought two frocks for ₹1,200. I sold the first one at a loss of 7% and the second at a gain of 23%. If, on the whole I made neither a loss nor a gain, find the cost price (in ₹) of the first frock.
- The selling price of 40 books is equal to the cost price of 28 books. Find the loss or gain percentage.
- Big Mart is offering $5\%$ discount on card payment. How much percentage above cost price should the marked price be so as to make a profit of $10\%$?
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- A vendor purchases an article for ₹500 and sells it for ₹550. What is the percentage gain?
- Rupert purchases a second-hand TV for ₹4,600, spends some money on its repairs, and then sells it for ₹5,406, thereby earning a profit of 6%. How much did Rupert spend on the repairs?
- Atulit buys an old bicycle for ₹4,000 and spends ₹400 towards its repairs. If he sells the bicycle for ₹5,000, his percentage gain is:
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Important Questions from Profit and Loss
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?
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?
By selling a horse for Rs. 670, a tradesman would lose 5%. At what price must he sell it to gain 5%?
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:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
