point pens were sold at a loss of 20%. If they had
sold at 70 more, there would have been a gain
of 3%. Find the cost price.
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Answer:
Let the cost price of the pen be X.
20% of X = (20/100)*X=X/5
Selling at 20% loss = X-X/5=4X/5
Selling for 70 more gives profit of 10/3%
Profit %=(profit/C.P)*100
And profit = S.P-C.P=(4X/5 + 70) - X
= 70 - X/5
Therefore 10/3 = {(70- X/5)/X}*100
On solving for X, we get X=300.
Hence the answer is 300
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