A tradesman sold an article at a loss of 20%. If the selling price had been increased by ₹100, there would have been a gain of 5%. What was the cost price of the article (₹)?
400
To solve the given problem, we need to determine the cost price of the article based on the given selling conditions. Let's break it down step by step:
Let's denote the cost price of the article as \(C\).
According to the problem, the article was sold at a loss of 20%. This means that the selling price \((SP_1)\) can be expressed as:
\(SP_1 = C - 0.2C = 0.8C\)
If the selling price is increased by ₹100, there would have been a gain of 5%. Therefore, the new selling price \((SP_2)\) can be expressed as:
\(SP_2 = C + 0.05C = 1.05C\)
According to the problem, when the selling price is increased by ₹100, it would result in \(SP_2\). Hence, we can write:
\(SP_2 = SP_1 + 100\)
Substituting the values, we have:
\(1.05C = 0.8C + 100\)
Solving the above equation for \(C\):
\(1.05C - 0.8C = 100\)
\(0.25C = 100\)
\(C = \frac{100}{0.25} = 400\)
Therefore, the cost price of the article is ₹400.
Among the given options, the correct one is: 400.
Similar Questions
70% of the cost price of an article is equal to 50% of its selling price. The percentage of profit or loss on the cost price is
A dealer marks his goods 25% above the cost price and then allows 10% discount on it. What is the cost price of an article on which he gains ₹50 ?
A shopkeeper sold two articles at Rs. 12,000 each. He sold one article at a profit of 20% and the other one at a loss of 20%. What is the net gain or loss to the shop keeper?
Two old cars are sold for Rs. 48,000 each. One is sold at a profit of 20% and another at a loss of 20%. Find the net profit/loss percentage and the total amount of profit/loss.
A shopkeeper sells a refrigerators for Rs 22,000 and makes a profit of 10%. If he desires to make a profit of 18%, what should be his selling price?
Important Questions from Profit and Loss
Rohit buys 8 pens and 4 pencils for Rs. 2400. He sells pencils at a profit of 20 percent and pens at the loss of 10 percent. If his overall profit is Rs. 240, then what is the sum of the cost price of one pen and one pencil?
A man sells a car to his friend at the loss of 10 %; who in return sells it for Rs. 54000 making a profit of 20 %. What was the initial value of the car?
By selling a horse for Rs. 670, a tradesman would lose 5%. At what price must he sell it to gain 5%?
An article was sold at a loss of 24%. If it were sold for Rs. 1,596 more, then there would have been a gain of 18%, The cost price of the article is:
The cost price of an article is Rs.6,450. If it sold at a profit 16%, how much would be its selling price?
