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
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Important Questions from Profit and Loss
By selling an article for Rs. 2,200, a profit of 10% is earned. If the same article is sold for Rs. 2,600, then what will be the gain percentage?
By selling an article for Rs. 640, a person loses 15% of its selling price. At what price (in Rs.) should he sell it to gain 15% on its cost price?
The selling prices of articles A and B are the same. A is sold at a profit of 28 percent and B is sold at a loss of 24 percent. If the total selling price of the both articles is Rs. 48640, then what is the cost price of A and B, respectively ?
The cost price of an article is Rs. 2800. Profit as a percentage of selling price is 20 percent. What is the actual profit (in Rs.) ?
A trader bought 640 kg of rice. He sold a part of rice at 20% profit and the rest at 5% loss. He earned a profit of 15% in the entire transaction. What is the quantity (in kg) of rice that he sold at 5% loss?
