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?
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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