A dishonest merchant makes a 10% profit at the time of buying and a 5% loss at the time of selling the goods he trades. by doing so if the said merchant made a profit of Rs 900 on a particular item, what was the real cost price of the item sold?
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Given data:
A dishonest merchant makes a 10% profit at the time of buying and a 5% loss at the time of selling the goods he trades.
By doing so, he made a profit of Rs. 900 on a particular item.
To find: the real cost price of the item sold
Step-by-step explanation:
Let the real cost of the item was Rs. x
Then the merchant bought the item at
Rs. x (1 - 10/100)
= Rs. x × 90/100
= Rs. 9x/10
He sold the item at a loss of 5%
Thus selling price of the item was
Rs. 9x/100 (1 - 5/100)
= Rs. 9x/10 × 95/100
= Rs. 171x/200
Given, he made a profit of Rs. 900 on that item.
Then, 9x/10 - 171x/200 = 900
⇨ (9x × 20 - 171x)/200 = 900
⇨ 180x - 171x = 900 × 200
⇨ 9x = 180000
⇨ x = 20000
Answer: The real cost price of the item sold was Rs. 20000
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