When the cost price of an article is increased by 18%, a trader increased his selling price so that he maintained the same profit percentage. If the profit he obtained was Rs. 9 more than his initial profit, then what was his initial profit?
Answers
Given : Cost price of an article is increased by 18%,
a trader increased his selling price so that he maintained the same profit percentage.
The profit he obtained was Rs. 9 more than his initial profit,
To Find : what was his initial profit?
Solution:
Initial Cost = 100C Rs
Profit percentage = P %
Initial Profit = (P/100) * 100C =CP Rs
cost price of the article is increased by 18%
Hence new cost Price = 100C + (18/100)100C = 118C Rs
same profit percentage. = P
New Profit = (P/100 ) * 118C =1.18CP Rs
profit he obtained was Rs. 9 more than his initial profit
=> 1.18CP - CP = 9
=> 0.18CP = 9
=> CP = 50
Initial Profit = 50
his initial profit = Rs 50
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