By selling a fan for Rs.700, a trader suffers a loss of 30%. Find the cost price of the fan. At what price this fan should be sold in order to gain 10%  ?
Please send the answer along with detailed solutions to avoid any confusion in future.

Asked by archanagoel23 | 28th Dec, 2015, 06:55: PM

Expert Answer:

begin mathsize 14px style S. P. space o f space f a n equals R s. space 700 L o s s percent sign equals 30 percent sign N o w comma C. P. equals fraction numerator 100 over denominator 100 minus L o s s percent sign end fraction cross times S. P. equals fraction numerator 100 over denominator 100 minus 30 end fraction cross times 700 equals 100 over 70 cross times 700 equals 1000 T h u s comma space t h e space C. P. space o f space f a n equals R s. space 1000  G a i n percent sign equals 10 percent sign S. P. equals fraction numerator 100 plus G a i n percent sign over denominator 100 end fraction cross times C. P. equals fraction numerator 100 plus 10 over denominator 100 end fraction cross times 1000 equals 110 over 100 cross times 1000 equals 1100 T h u s comma space t h e space f a n space s h o u l d space b e space s o l d space a t space R s. space 1100 space i n space o r d e r space t o space g a i n space 10 percent sign. end style

Answered by Rashmi Khot | 29th Dec, 2015, 08:57: AM

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