Aptitude - Profit and Loss - Discussion

I hope this helps you out guys.

S.P=18700(Given).
Loss%=15%(given).
We need to find out S.P so that the gain % becomes 15%.

Gain% must be = 15%(as per question).
so S.P = 115% OF C.P(Formula-derived).

C.P=(100/100-LOSS%)* S.P(Formula).

Note: we could have taken this formula also C.P=(100/100+GAIN%)*S.P, but for gain, S.P is NOT GIVEN so we don't use this one.

C.P=(100/100-15)*18700.
C.P=(100/85)*18700.
C.P=22000.

For gain of 15%.
S.P must be= 115% of C.P (mentioned above).
S.P=115/100*22000.
S.P=25300.(ANSWER).

SIMPLEST WAY.

Given:

S.P = 18700.
LOSS% = 15%.

FORMULA: TO FIND C.P WHEN LOSS% AND S.P IS GIVEN.

C.P = (100/100-LOSS%)*S. P.

= (100/100-15)*18700.

= (100/85)*18700.

C. P = 22000.

FOR NEW S.P = 115% OF 22000.

= (115/100)*22000.

= 25300.

Let the actual price of the plot be X.

When the plot was sold at 18700 the loss% was 15%.

It means 18700 = 85% of X.

i.e. 18700 = 85/100*X.

Hence, X = 22000 (the actual price of the plot).

In order to make a profit of 15%, just find the 115% of 22000.

i.e. 115/100*22000 which will be Rs. 25300.

He is given 15% loss.

So 85% is equal to 18700.

= 0.85 = 18700.
= 0.15 = X.

Cross multiplication.

Therefore X = 3300.

= 18700+3300 = 22000.

For 15% profit.

22000*1.15 = 25300.

Hai.

C.P = (100/(100-loss%))*S.P.

From question.

C.P = (100/(100-15))*18700.
C.P = 22000.

Then we need 15% gain so,

22000*(15/100) = 3300.

So Cost price+Gain price = 22000+3300 = 25300.

S.P = 18700.

And loss = 15%.

So C.P = S.P/100-loss% (as S.P = (100-loss%)C.P).

Now C.P = 18700/0.85-----(1).

At what price must that plot be sold in order to gain 15%? (this is our second statement).

Let S.P=x.

So C.P = S.P/100+gain%.

Now our C.P = x/1.15------(2).

Now equate 1 and second C.P.

i.e x/1.15 = 18700/0.85.

After solving we will get x that is S.P for second statement = 25300.

How will we get the answer we had given that he had bought it at 4% less?

18700/ = is 85% not 100%.

Then, 18700/85 x 100 = 22000 (No loss or profit).

So, 15% profit 18700/85 x 115 = 25300.

By using the formula:

C.P = 100/85 * 18700 = 22000.
S.P = 115/100 * 22000 = 25300.

Old (Loss)
Selling Price = 18700.
Loss = 15%.

Cost Price = (100/(100-15)) * 18700)// use Cost Price Formula.
= (100/85) * 18700.
= 22000 // Note : C.P remains same through out business

New ( Gain)

Cost Price = 22000// Retrieve C.P from above as C.P remains same no matter what,
Gain = 15 %.
Selling Price = ((100 + 15)/100) * 22000 // use S.P formula.
= (115/100) * 22000.
= Rs. 25300.

New selling price to gain 15% profit is Rs. 25300.