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Study the following table carefully and answer the questions.
Question 83
Percent profit earned when an article is sold for Rs.558/is double the percent profit earned when the same article is sold for Rs.504/. If the marked price of the article is 30% above the cost price, what is the marked price of the article ?
Solution
Let Cost price be CP.
Profit by selling for 558 = (558 - CP)/CP
Profit by selling for 504 = (504 - CP)/CP
Given
Profit by selling for 558 = 2 $$\times$$ Profit by selling for 504
(558 - CP)/CP = (504 - CP)/CP
(558 - CP) = 2 (504 - CP)
558-CP = 1008 - 2CP
CP = 450
Marked Price (MP) = 30 % more than CP = 1.3 (450) = 585
Option A is the correct answer.
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