Question

A briefcase was sold at a profit of 10%. if its cost price was 5% less and it was sold for 7 more, the gain would have been 20%. find the cost price of the briefcase.

Answer 1

hi
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let the  CP of the briefcase be Rs x

Profit = 10% x = 0.1x

SP = CP + Profit = 1.1x

 

If CP was 5% less i.e. CP' = 0.95x

and SP = 1.1x + 7

then profit = 20%

i.e.profit = 20% of CP' = 0.2*0.95x = 0.19x

Hence SP = CP' + profit = 0.19x + 0.95x = 1.14x

Now, 1.1x + 7 = 1.14x

7 = 0.04x

x = Rs175

Hence CP of the briefcase is Rs 175
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hope it helps):-