Question

A product was sold at a profit of 20%. If it was sold at a price that was 15% lower, the profit would have been Rs. 420. What is the Cost price of the product?​

Answer 1

Step-by-step explanation:

sp=cp(1+p%)

= cp×(1+20%)

=1.2CP

cp=sp/1.2

sp(1-15%)=cp(1+420)

sp×0.85 - 420 = cp

sp×0.85-420=sp/1.2=0.83sp

0.85sp-0.83sp = 420

0.02sp=420

sp=21000

cp=sp/1.2=21000/1.2=17500