Question

A man sells an article and makes a profit of 6%. Had he bought the article at a price 4% less and sold at a price higher by Rs. 7.60, he would have made a profit of 12%. Find his cost price.

Answer 1

Let the C.P. be Rs. x and the profit is 6%.

∴ S.P. = `(1 + 6/100)` of Rs. x = Rs.`(53x)/(50)`

If he buys the article are 4% less, then

∴ C.P. = `(1 - 4/100)` of Rs. x = Rs.`(24x)/(50)`

New profit = 12%

∴ New S.P. = `(1 - 6/100)` of Rs.`(24x)/(50)`

= Rs.`(28/25 xx (24x)/50)`

As per the given condition,

Rs.`(28/25 xx (24x)/50) = "Rs". (53x)/(50) + "Rs". 7.60`

⇒ `(672)/(625)x = (53x)/(50) + (76)/(10)`

⇒ `(672)/(625)x - (53x)/(50) = (76)/(10)`

⇒ (2 x 672 - 25 x 53)x = 125 x 76
⇒ 19x = 125 x 76
⇒ x = 500
Hence, the C.P. of the article is Rs.500.