A man buys some toffees. If he sells them at 175 rupees, he will make a profit of 25 rupees. At what price should he sell them to make a profit of 52 rupees?
Hint: In order to find a new selling price with some extra profit first we will calculate this extra profit that will be the profit he wants to gain $ - $ the profit he is gaining.
Complete step-by-step answer:
Given that Selling price = Rs. 175 The profit he gains at selling toffees at Rs. 175 is 25 The profit he wants to gain is 52 rupees Now, to evaluate the selling price with extra profit, we will calculate the extra gain So, the extra profit needed is $ = 52 - 25 = Rs.27$ Therefore, the selling price should be $ = 175 + 27 = Rs.202$ Hence, man should sell them at a price of $Rs.202$ to make a profit of $Rs.52$
Note: In order to solve problems of selling price and cost price remember the basic definitions of cost price, fixed, variable price, marked price etc. With the help of their definitions it is easier to know what is given and what we need to find. For example in above question selling price is given and we have asked to find the selling price so that seller gains a profit.