To solve this, we first need to find the cost price (CP) of the article and then use it to find the selling price (SP) for a 5% profit.
1. Find the Cost Price (CP):
Given:
Selling price at 2% loss = Tsh 500
Loss percentage = 2%
{Cost Price} = {Selling Price}}{1 - {Loss Percentage}}{100}}
Substitute the values:
{Cost Price} = {500}{1 - {2}{100}} = {500}{0.98} approx 510.20
So, the cost price (CP) is approximately Tsh 510.20.
2. Calculate the Selling Price for a 5% Profit:
Now, to get a 5% profit, the selling price (SP) would be:
{Selling Price} = {Cost Price} (1 + {Profit Percentage}}{100}
Substitute the values:
{Selling Price} = 510.20 (1 + {5}{100})
{Selling Price} = 510.20 * 1.05 = 535.71
Therefore, the selling price for a 5% profit would be approximately Tsh 535.71.
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