Question

A shopkeeper sells his goods at 20% profit. Had he purchase it for 10% less and sold it Rs. 18
less then he would gain 30%. Find initial cost price.

Answer 1

Answer:

Cost Price, CP = Rs. 600

Step-by-step explanation:

In the question,

Let the Cost Price of the goods purchased initially, CP = 100x

So,

On selling at 20% profit,

Selling Price, SP, of the goods is given by,

$SP=(\frac{20}{100}\times 100x)+100x=120x\\So,\\SP=120x$

Now,

If he had purchased for 10% less, therefore, Cost Price would have been,

$CP=100x-\frac{10}{100}\times 100x=100x-10x\\CP=90x$

So,

Now, Selling Price is also reduced by Rs. 18.

So,

SP = (120x - 18)

Now,

Profit = 30%

So,

$\frac{SP-CP}{CP}\times 100=Profit \%\\So,\\\frac{(120x-18)-90x}{90x}\times 100=30\\So,\\30x-18=27x\\3x=18\\x=6$

Therefore, the initial Cost Price, CP, is given by,

CP = 100x

CP = 600 Rs.

Answer 2

Answer:

CP =600................