Question 60
A shopkeeper sold an article at a loss of 25%. If the selling price had been increased by Rs.200, there would have been a gain of 15%. What was the cost price of the article?
Solution
Let us assume the Cost Price = 100X.
As he loses 25% by selling at the SP, the SP = 75X.
Increased SP = 75X + 200. This selling Price earns him a profit of 15%.
1.15 * 100X = 75X + 200
==> 40X = 200 ==> X = 5.
Cost price of the article = 100X = Rs. 500.
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