A man sells a watch at a profit of 20%. If he had bought it at 10% less and sold it for Rs. 30 less, he would have gained 20%. Find the initial cost price. MCQ with Answer and Explanation
A man sells a watch at a profit of 20%. If he had bought it at 10% less and sold it for Rs. 30 less, he would have gained 20%. Find the initial cost price.
A. Rs. 300
B. Rs. 200
C. Rs. 250
D. Rs. 150
Answer: Option C
Solution (By JKSSB Mock Tests)
Let original CP = 100x. Original SP = 120x. New CP = 90x. New SP = 120x - 30. Profit is 20% on 90x = 18x. So, 90x + 18x = 120x - 30. 108x = 120x - 30. 12x = 30. x = 2.5. Original CP = 100 * 2.5 = Rs. 250.
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