Question

Calculate the Cost Price of an Article
An article is sold at 20 percent profit. If its cost price is increased by 50 rupees and at the same time selling price is also increased by 30 rupees, then the percentage of profit decreases by 10.3%. Find the cost price?

Answer 1

let  the  cost  price = x, so  sales  price = 1.2 x,  after  change  in  prices

new  cost  price =  x + 50  and  new  sales  price = 1.2 x + 30,  hence

1.2 x  +  30 -  x - 50  /  x+ 50 =  9.7 / 100,  or  .2 x - 20 / x + 50 =  9.7/ 100

cross multiplying,   20 x -  2000 = 9.7 x +  485  or  10.3 x = 2485  or

x = 241. 26