A trader gives a discount of 20% on the marked price and still gains 20%. If the marked price is Rs. 1500, what is the cost price? MCQ with Answer and Explanation
A man sells an article at 5% above its cost price. If he had bought it at 5% less and sold it for Rs. 2 less, he would have gained 10%. Find the original cost price.
Explanation:
Let original CP = x. Original SP = 1.05x. New CP = 0.95x. New SP = 1.05x - 2. New profit is 10% on new CP, so New SP = 1.10 * 0.95x = 1.045x. Equating the two new SPs: 1.045x = 1.05x - 2. Therefore, 0.005x = 2, which gives x = 2 / 0.005 = 400.
The profit earned by selling an article for Rs. 1630 is the same as the loss incurred by selling it for Rs. 1320. At what price should it be sold to earn a 20% profit?
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