Question

A man sold an article at a profit of 10%. Had he bought it at 20% less and sold it for ₹10 more, he would have earned a profit of 40%. Find the cost price of the article.​

Answer 1

Answer:

Let ‘x’ be the cost price of the article.

Then selling price = x * 110/100 = 1.1x

If he had bought for 20% less, then cost price = 0.8x

With 40% profit, selling price will be = 0.8x * 140/100 = 1.12x

Hence we have, 1.12x - 1.10x = 10

0.02x = 10

x = 10/.02 = ₹500