A man sells an article at a profit of 25%. If he had bought it at 20% less and sold it for ` 10.50 less, he… · ABC26GN2580
Subject: General Aptitude · Chapter: Profit and Loss
A man sells an article at a profit of 25%. If he had bought it at 20% less and sold it for ` 10.50 less, he would have gained 30%. Find the cost price of the article.
Answer
No answer key was printed for this question.
Explanation
Let the C.P. be ₹x. 1st S.P. = 125% of x = $\frac{5x}{4}$; 2nd C.P. = 80% of x = $\frac{4x}{5}$. 2nd S.P. = 130% of $\frac{4x}{5}$ = $\frac{130}{100} \times \frac{4x}{5} = \frac{26x}{25}$. $\therefore \frac{5x}{4} - \frac{26x}{25} = 10.50 \Leftrightarrow \frac{21x}{100} = 10.50 \Leftrightarrow x = \frac{10.50 \times 100}{21} = 50$. Hence, C.P. = ₹50.
Explanation as extracted from the printed page; notation may be imperfect.