Question

leela sold her gold necklace at a profit of 7%. If she had sold it for rs.294, she would have got 10% profit. find the cost price

Answer 1

If in one step then
3%=294
so, 9800 cp
direct method because 294 is given difference of 10%-7%

Answer 2

Let the cost price be 'x'.

Given profit = 7%.

⇒ Selling price of the necklace = x + 7% of x

                                                    = x + (7x/100)

                                                    = (107x/100).

Given profit = 10%.

⇒ Selling price when profit is 10% = (x + 10% of x)

                                                         = (x + 10x/100)

                                                         =  110x/100.

Given that if she had sold it for 294, she would have got 10% profit.

$= > \frac{107x}{100} + 294 = \frac{110x}{100}$

$= > 294 = \frac{110x}{100} - \frac{107x}{100}$

$= > 294 * 100 = 110x - 107x$

$= > 29400 = 3x$

$= > x = 9800$

Therefore, the cost price of the necklace = 9800/-.

Hope this helps!