Question

47. A trader calculates that if he could sell an article at 14% profit, instead of 7%, he get Rs. 70 more. Find the cost price of an article. (AT Rs. 10 (B) Rs. 1000 (C) Rs. 100 (D) None​

Answer 1

Answer:-

Let the CP of the article be Rs. x.

Given:-

If he sells the article at 14% profit instead of 7% , he gets Rs. 70 more.

We know that,

SP = CP × (100 + Profit%)/100

So,

SP of article sold at 7% profit = x * (100 + 7) / 100

⟹ SP of article sold at 7% profit = Rs. 107x/100

And,

SP of article sold at 14% percent = x * (100 + 14)/100

⟹ SP of article sold at 14% profit = Rs. 114x/100.

Now,

The difference between SP's is Rs. 70

Hence,

⟹ 114x/100 - 107x/100 = 70

⟹ (114x - 107x)/100 = 70

⟹ 7x/100 = 70

⟹ 7x = 7000

⟹ x = 7000/7

⟹ x = Rs. 1000

∴ The Cost Price of each article is Rs. 1000.

Answer 2

Given :-

A  trader calculates that if he could sell an article at 14% profit, instead of 7%, he get Rs. 70 more.

To Find :-

CP

Solution :-

Let the CP be a

SP = CP × (100 + Profit%)/100

SP = a × (100 + 14)/100

SP = a × (114/100)

SP = 114a/100

Now, When profit is 7%

SP = a × (100 + 7)/100

SP = a × (107/100)

SP = 107a/100

Now

114a/100 = 107a/100 + 70

114a/100 - 107a/100 = 70

7a/100 = 70

7a = 100 × 70

7a = 7000

a = 7000/7

a = 1000/1

a = 1000