Question 51

A shopkeeper sells an item at a loss of 8%. However, if he increases the selling price by ₹36, he could gain 12%. Find the cost price of the article (in ₹) .

Solution

Let's assume the cost price of an item is 100y.

A shopkeeper sells an item at a loss of 8%.

Selling price of an item = 100y of (100-8)%

= 100y of 92%

= 92y

However, if he increases the selling price by ₹36, he could gain 12%.

92y+36 = 100y of (100+12)%

92y+36 = 100y of 112%

92y+36 = 112y

112y-92y = 36

20y = 36

y = 1.8

Cost price of the article = 100y

= $$100\times1.8$$

= ₹180

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