Aaarav makes a profit of Rs. 122 if he sells a certain number of erasers he has at the price of Rs. 8 per eraser and incurs a loss of Rs. 25, if he sells the same number of erasers for Rs. 5 per eraser. What should be the selling price of all the erasers in order to make a profit of 26%?
Let number of erasers be ‘x’ Profit = 122 Selling price = 8x Cost price = SP – PROFIT = 8x – 122 Similarly, selling price = 5x Loss = 25 Cost price = SP + loss = 5x + 25 Equating two cost prices 8x – 122 = 5x + 25 8x – 5x = 25 + 122 3x = 147 x = 49 Total cost price = 5 × 49 + 25= Rs. 270 In order to make a profit of 26%, selling price = 270 + (26% of 270) = 270 + 70.2 = 340.2
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