Daksh buys a plot for Rs. 700,000,0. He sells $\frac{3}{8}$ of the plot at a loss of 6%. At what price he should sell the remaining plot so that he gains 8% on the money invested in the plot?

Given:

Daksh buys a plot for Rs 7000000

He sells $\frac{3}{8}$ of plot at a loss of 6%.

To do: To find at what price he should sell the remaining plot so that he gains 8% on the money invested in the plot

Solution:

Cost price of plot=₹70,00,000

Cost of $\frac{3}{ 8}$ part of plot :

$C.P_1=\frac{ 3}{8}\times70,00,000$

=$ ₹2625000$

Selling price of $\frac{3}{8}$ part of plot :

$S.P_1 = C.P_1 - 6% of C.P_1$

=$2625000 - 6% of 2625000$

=$2625000 - 0.06 \times 2625000$

=$26,25,000 - 15,7500$

=$₹24,67,500$

Remaining part of plot = $1 - \frac{ 3}{8 } = \frac{5}{ 8}$

He has to gain 8% on the money invested in the plot.

Selling price of entire plot to gain 8% :

=$70,00,000 + 8% of 70,00,000$

=$₹ 75,60,000$

Selling price of remaining plot to gain 8% on the plot :

$S.P_2= ₹75,60,000 - S.P \ of \ \frac{3}{ 8}$ part of the plot

=$75,60,000 - ₹24,67,500$

=$₹50,92,500$

Therefore, the remaining plot should be sold at =$₹50,92,500$

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