Good and service tax (GST)

If a house is sold for 187,000 there is a loss of 15% on the cost price.

For how much should it be sold to make a gain of 15% on the cost price?

Solution

Without a loss the cost price should be

187000 + 187000 * 15%

187000 * 15% = 187000 * 0.15 = 28050

187000 + 28050 = 215050

Without a loss of 15%, the house will cost 215050

To make a gain of 15% on the cost price, the cost of the house should be

215050 + 215050 * 15%

215050 * 15% = 32257.5

215050 + 32257.5 = 247307.5

With a gain of 15%, the house will cost 247307.5

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