By selling an article for rupees 7.50 a retailer gains 12 1 by 2% what is cost price of the article
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Answer:
850 RS
Step-by-step explanation:
Let initial cost price be Rs. x
Profit =
100
20
×x=
5
x
So, Selling price = x+
5
x
=
5
6x
New cost price = x+50
New selling price =
5
6x
+30
New profit = (
5
6x
+30)−(x+50)=
5
x
−20
Profit%=
(x+50)
5
x
−20
×100
According to the question profit %= (20−
3
10
)%=
3
50
%
So,
x+50
5
x
−20
×100=
3
50
⇒
5(x+50)
x−100
×100=
3
50
⇒
x+50
x−100
=
6
5
⇒ 6x−600=5x+250
⇒ x=850
Therefore, cost price of article is Rs. 850.
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