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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