A man sells an article at a 10% profit. If he had bought it at 20% less and sold it for Rs. 20 more, his profit would have been 40%. Find the initial cost price. MCQ with Answer and Explanation
A man sells an article at a 10% profit. If he had bought it at 20% less and sold it for Rs. 20 more, his profit would have been 40%. Find the initial cost price.
Explanation:
Let the cost price of 1 meter be 1. The cost price of 33 meters is 33. The profit is equal to the cost price of 11 meters, which is 11. Profit Percentage = (Profit / Cost Price) * 100 = (11 / 33) * 100 = 33.33%.
A man buys goods worth Rs. 6000. He sells one-third of them at a 10% profit. At what profit percentage must he sell the remaining goods to achieve an overall profit of 20%?
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