buying any items at 10% less and selling it 10 % more doubles the profit for a mom -pop shop given that all prices have to be whole numbers . which of the following could have been the cost price
Answers
Given : buying any items at 10% less and selling it 10 % more doubles the profit for a mom -pop shop given that all prices have to be whole numbers .
To Find : What could have been the cost price
Solution:
Cost = C
Sell = S
Profit = S - C
buying any items at 10% less and selling it 10 % more
=> Cost = C - (10/100)C = 0.9C
Sell = S + (10/100)S = 1.1S
Profit = 1.1S - 0.9C
1.1S - 0.9C = 2 (S - C)
=> 1.1S -0.9C = 2S - 2C
=> 1.1C = 0.9S
=> 11C = 9S
=> C must be multiple of 9
Cost price is Multiple of 9
If options are given , choose one with multiple of 9
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