When a “mercedes-benz” is sold for rs. 18,700, the owner loses 15%. at what price must that “mercedes-benz” be sold in order to gain 15%?

General
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when a “mercedes-benz” is sold for rs. 18,700, the owner loses 15%. at what price must that “mercedes-benz” be sold in order to gain 15%?

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LectureNotes said when a “mercedes-benz” is sold for rs. 18,700, the owner loses 15%. at what price must that “mercedes-benz” be sold in order to gain 15%?

Answer: To determine the price at which the “Mercedes-Benz” must be sold to gain 15%, we first need to find the original cost price (CP) of the car. Here’s the step-by-step process:

  1. Determine the Cost Price (CP):

    • When the car is sold for Rs. 18,700, the owner incurs a 15% loss.
    • This means that Rs. 18,700 is 85% of the original cost price (since 100% - 15% = 85%).

    Let’s denote the original cost price as ( CP ).

    Given:

    85\% \text{ of } CP = 18,700

    Converting the percentage to a decimal:

    0.85 \times CP = 18,700

    Solving for ( CP ):

    CP = \frac{18,700}{0.85}
    CP = 22,000

  2. Calculate the Selling Price (SP) for a 15% Gain:

    • To achieve a 15% gain, the car must be sold at 115% of the cost price (since 100% + 15% = 115%).

    Using the cost price we found:

    SP = 115\% \text{ of } CP

    Converting the percentage to a decimal:

    SP = 1.15 \times CP

    Substituting the cost price:

    SP = 1.15 \times 22,000
    SP = 25,300

Therefore, to gain 15%, the “Mercedes-Benz” must be sold for Rs. 25,300.