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2014-10-04T21:34:30+05:30

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Let cost price = Rs. x
selling price = Rs. 620
loss = 7%

 \frac{x-620}{x}*100=7

 \frac{x-620}{x} = \frac{7}{100} = 0.07

x - 620 = 0.07x
x -0.07x = 620
0.93x = 620

 x = \frac{620}{0.93} =  \frac{62000}{93}= 666.67

Now selling price = 700

Profit =  \frac{700- 666.67 }{ 666.67 } *100 = = 4.99% ≈5%



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2014-10-05T01:47:43+05:30
At 620 loss of 7% is suffered 
so 0.93 of cp=620
⇒cp=666.67
if sold for 700 
profit=33.33
profit%=(33.33/666.67)*100
          =4.99%≈5%
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