A person bought an item and sent it at a profit of 10%. If he sold this item at a 20% lower price, the purchase contest was at a higher selling price, then it would have gained 40%. Find the purchase price of the item.
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Step-by-step explanation:
Let original cost price be _ RS 100.
Original selling price considering 20% profit _ RS 120
As per condition of the problem new selling price would be { 100–10}*130/100= RS 117
Therefore difference between two selling price will be 120–117 = Rs 3
Original cost price = 100/3 x 15
= RS 500 and new cost price would be 90/3x15= RS 450 ans
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