Question 60

A person sells an article at 10% below its cost price. Had he sold it for ₹332 more, he would have made a profit of 20%. What is the original selling price (in ₹) of the article?

Solution

Let the cost price of article be x.

selling price = 90%x = 0.9x

Now Selling = 0.9x + 332

Profit = 20

Cost price = $$\frac{0.9x + 332}{120} \times 100$$

x = $$\frac{0.9x + 332}{120} \times 100$$

1.2x = 0.9x + 332

0.3x = 332

x = 332/.3

Selling price = 0.9x = 0.9 $$\times$$ 332/.3 = Rs.996

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