Question

An article is sold at 20% profit. Had the cost price and the selling price both been ₹20 less, the profit would have been 10% more. Find the selling price of that article.​

Answer 1

Answer:

Given:

Profit % = 20%

A situation where the profit % is 10% more if the cost price and selling price are reduced by Rs.20.

Find:

The selling price of the article.

Solution:

The above mathematical problem can be solved by implementing the concepts of cost price and selling price.

Let us assume the cost price of the article is x

Since the profit is given as 20%

∴ the selling price of the article will be (1 + 0.2)x

Thus, the selling price would be 1.2x

The question states that when C.P. and S.P. are Rs.20 less, then:

C.P. = x-20

S.P. = 1.2x-20

According to the given situation,

⇒1.2x-20 = 1.3 × (x-20)

⇒1.2x-20 = 1.3x-26

⇒0.1x = 6

⇒x = 60

As the cost price is Rs.60, then the selling price will be,

⇒1.2 × 60 = Rs.72

Hence, the selling price of the article is Rs.72.