A Cricket bat is sold at a profit of 7% . had it been sold for & 60 more, the profit
have been 12%. Find the cost price of bat
Answers
Profit and loss problem
Solution:
Let the cost price of the cricket bat be Rs. X
Case 1. If the cricket bat is sold at 7% profit, its selling price be
= Rs. X * (1 + 7/100)
= Rs. X * 107/100
= Rs. 107X/100
Case 2. If the cricket bat is sold at 12% profit, its selling price be
= Rs. X * (1 + 12/100)
= Rs. X * 112/100
= Rs. 112X/100
It is given that the difference between profits earned at 12% and 7% is Rs. 60. Then,
112X/100 - 107X/100 = 60
or, 5X/100 = 60
or, X = 60 * 100 / 5
or, X = 1200
Answer: Therefore, the cost price of the bat is Rs. 1200.
Step-by-step explanation:
Let P be the Profit and CP be the Cost Price
7=
CP
P
×100⇒
100
7
=
CP
P
Also,
100
12
=
CP
P+60
Dividing both Equations
7
12
=
P
P+60
⇒12P=7P+420⇒5P=420⇒P=84
Now,
100
7
=
CP
84
⇒CP=1200