Question 65

A person bought an item and sold it at a loss of 5%. If he had bought it for 10% less and sold it for ₹ 170 more, he would have had a profit of 20%, Find the cost price of this item. (nearest to ₹1)

Solution

let CP=x
SP=0.95x
New CP=0.9*x
New SP=0.95x+170
profit=20%
0.95x+170=1.2(0.9x)
0.13x=170
x=1307.6
x=Rs 1308

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