Question 108
A dealer offered a machine for sale for Rs. 27,500 but even if he had charge 10% less, the would have made a profit of 10%. The actual cost of the machine is
Solution
Let the actual price of the product be x,
Selling price with 10% profit = x + (10x/100)
Selling price of machine is 10% less than 27,500 = 27,500 - (27500/10) = 24750
Equating both we get 24750 = x + (10x/100)
Solving the above equation gives x = 22500.
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