Question

Leela sold her gold necklace at a profit of 7% if she had sold it for rupees 294 more he would have got 10% profit find the cost price

Answer 1

Let the cost price be x.

Given, profit = 7%.

Selling price of the necklace = (x + 7% of x)

                                                = (x + 7x/100)

                                                = (107x/100)

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

                                                    = (x + 10x/100)

                                                    = (110x/100)

Now,

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

⇒ (107x/100) + 294 = (110x/100)

⇒ 294 = (110x/100) - (107x/100)

⇒ 294 = 3x/100

⇒ 29400 = 3x

⇒ x = 29400/3

⇒ x = 9800.

Therefore, cost price of the gold necklace = 9800.

Hope it helps!