Question

A man buys a TV for 6800 how much should he sell so to
\[\left( i \right)\] gain \[10\%\]
\[\left( ii \right)\] less \[5\%\] on it?

Answer 1

Hint: In order to find the selling price so that the man gains \[10\%\], we must consider the known cost price and add the value of \[10\%\] more to the cost price. In order to find the selling price so that he loses \[5\%\], we must subtract the value of \[5\%\] from the cost price. Finding these values would be our required answer.

Complete step-by-step solution:
Now let us learn about selling price and cost price. The price at which a good is being bought is considered as cost price. In the same way, the price at which the goods are being sold is called the selling price. While comparing the cost price and selling price, if the cost price is greater than the selling price, then loss occurs. If the selling price is greater than the cost price, then gain or profit occurs.
\[\left( i \right)\] Now let us find the selling price so that the man gains \[10\%\].
We know that,
Cost price of the TV is \[6800\].
Given condition is a gain of \[10\% \].
So the selling price would be = \[\text{cost price}+\text{cost price}\times 10\%\]
Now, upon solving this we get,
Selling price \[=6800+6800\times \dfrac{10}{100}=6800+680=7480\]
\[\therefore \] The selling price of the TV should be \[Rs.7480\] in order to gain \[10\%\].

\[\left( ii \right)\] Now let us find the selling price so that the man loses \[5\%\].
So, we know that the cost price of the TV is \[6800\].
Given condition is loss of \[5\%\].
The selling price would be = \[\text{cost price}- \text{cost price}\times 5\%\]
Upon substituting and solving this, we get
Selling price \[=6800-6800\times \dfrac{5}{100}=6800-340=6460\]
\[\therefore \] The selling price of the TV should be \[Rs.6460\] in order to obtain a loss of \[5\%\].

Note: We must have a note that the cost price or the selling price can never be negative. In order to remove the negative nature, we will be applying mod to the value which converts into positive. We can apply this loss or gain percent in everyday life to calculate them.