Question 53

An article was sold at a gain of 16%. If it had been sold for 36 more, the gain would have been 20%. The cost price of the article is

Solution

Let the cost price of an article be x.

Gain = 16%

Selling price = x$$\times 116/100$$ = 1.16x

Selling price when sold for 20% gain = x$$\times 120/100$$ =1.2x

According to question,

1.2x - 1.16x = 36

0.4x = 36

x = Rs.900

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