Question

a man sold an article at a profit of 10% .if he had purchased it for 5% less and sold for 56 rupees more, he could have gained 25%. for how much did he buy it for?

Answer 1

Cost Price (CP) = x

Profit = 25% or 0.25

Selling Price (SP) = 1.25x

If we would have bought it at 20% less means, x-20/100x or 0.8x (New CP)

and sold it for 1050 less means, 1.25x-1050 (New SP)

he would have gained 30%, so Profit would have been 30/100x or 0.3x (New Profit)

So, New SP - New CP = New Profit

(1.25x - 1050) - 0.8x = 0.3x

1.25x - 0.8x - 0.3x = 1050

0.15x = 1050

x = 7000