A dealer sells an article at a profit of 10%. If he increases its price by ₹49, he earns a profit of 17%. Find the cost
price and the initial selling price respectively
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Answer:
10% of cost price = initial profit.
10% of cost price + Rs 49 = 17% of cost price
10×CP/100 + 49 = 17×CP/100
(10×CP)+4900/ 100= 17×CP/100
4900=(17×CP)-(10×CP)
4900=CP(17-10)
4900= CP (7)
4900/7 = CP
700 = CP
cost price = Rs 700
10% of cost price = initial profit
10×700/100 = initial profit
10×7 = 70= initial profit
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