Question 41

Praveen who has a furniture shop sold a table at 20% profit. If he had sold the table for 500 rupees less, he would have incurred a loss of 20%. What is the actual cost of the table ?

Solution

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Let x be the actual cost of the table.
Selling price of the table when sold at 20% profit = 1.2x - (i)
Selling price of the table when sold at 20% loss = .8x -(ii)
Given, the difference between the two is Rs.500. Thus, 1.2x - 8x = 500
=>x = 500/.4x = Rs.1250

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