Question

Ratanlal sells buffalo for a profit of 12% had he sold it for 30000 more he would have realised the profit of 15% what is the cost price of Buffalo?​

Answer 1

Answer:

The cost price of the buffalo is Rs1000000.

Step-by-step explanation:

Let the cost price of the buffalo be x

Given that the profit is 12%

We know that profit% = $\frac{Profit}{Cost price}$ *100

=> Profit = Profit% * Cost price

On substituting the values,

=> The profit is = $\frac{12}{100}$ * x = 3x/25

We know that Profit = Selling price - Cost price

On substituting the values,

=> 3x/25 = Selling price - x

=> Selling price = 3x/25 + x

                          = 28x/25

According to the condition given in the question,

28x/25 + 30000 = x + Profit  --(i)

Calculating new profit

Given that the profit is 15%

We know that profit% = $\frac{Profit}{Cost price}$ *100

=> Profit = Profit% * Cost price

On substituting the values,

=> The profit is = $\frac{15}{100}$ * x = 3x/20

Substituting the value in equation (i)

28x/25 + 30000 = x + 3x/20

=>28x/25 + 30000 = 23x/20

=> 23x/20 - 28x/25 = 30000

=> 3x/100 = 30000

=> x= 10,00,000

Therefore, the cost price of the buffalo is Rs1000000.