Question

By selling a sewing machine a trader makes a profit of 15%. Had it been sold for 120
more, the profit would have been 20%, Find its cost price.​

Answer 1

The cost price of the  sewing machine is Rs. 2400

• Let the cost price of the sewing machine be x.

• Now, the selling price of the machine when it is sold at 15% profit

Selling price = x + 0.15x = 1.15x

SP = 1.15x       (Equation 1)

• Now, when 120 is added to the selling price , the seller gain a profit of 20%.

Selling price + 120 = x + 0.2x = 1.2x

SP + 120 = 1.2x            (Equation 2)

• Solving equation 1 and 2

Subtracting equation 1 from 2, we get

120 = 0.05x

x = Rs. 2400

• Therefore, Cost price of the sewing machine is Rs. 2400