Question
A sold an article at 55% profit. If the profit earned
had been 224% more, then the profit percentage would have been numerically equal to CP. Find the actual cost price of the article.Solution
Let the cost price of the article be Rs. 100x Therefore, selling price of article = Rs. 155x Therefore, profit earned = 155x – 100x = Rs. 55x New profit = 3.24 × 55x = Rs. 178.2x According to the question, (178.2x/100x) × 100 = 100x Or, x = 1.728 Therefore, actual cost price = 100x = Rs. 172.8
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