Question 65

If the selling price of a product is increased by Rs 162, then the business would make a profit of 17% instead of a loss of 19%. What is the cost price of the product?

Solution

Let the Selling price be s rupees. CP = cost price

Earlier:

Loss = 19% = CP - SP/CP = 1-S/C

S = 81C/100

Now:

Profit = 17%

So. new SP = 117C/100

S + 162 = 117/100 * C

81C /100 + 162 = 117 C/100

C = Rs. 450

So, cost price is Rs. 450.

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