Question

Parikh runs a start-up called "Books-Square" wherein the organization rents books to engineering students as we all are lazy to own one :P
The organization makes a profit of 20%. If the organization charges Rs. 1.2 higher on each book, they would gain 40%. Find the original price at which they sold a book.
Options

Rs. 5

Rs. 4.8

Rs. 6

None of these

Answer 1

Answer:

my answer is coming out to be 7.2

Step-by-step explanation:

Answer 2

The original price at which they sold a book is Rs. 7.2 [option (d): none of these]

Step-by-step explanation:

Let’s assume the original cost price of a book be Rs. 100.

Previous profit of the organisation = 20%

∴ The original selling price of the book was = $\frac{100+20}{100}$ * 100 = Rs. 120

It is given that if the selling price of each book was charged as Rs. 1.2 higher than the previous original selling price, then the organisation was making a profit of 40% so,  

The new S.P. of the book was = $\frac{100+40}{100}$ * 100 = Rs. 140

Therefore, we can see that  

When the difference between the two S.P. is [140 – 120 =] Rs. 20, the original S.P. was = Rs. 120

So, when the difference between the two S.P. is Rs. 1.2, the original S.P. will be = $\frac{120}{20} * 1.2$ = Rs. 7.2

Thus, in order to gain 40% on each book, the original price at which they sold a book was Rs. 7.2.

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