Question
A sold an article at 62% profit. If the profit earned
had been 260% 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. 162x Therefore, profit earned = 162x – 100x = Rs. 62x New profit = 3.6 × 62x = Rs. 223.2x According to the question, (223.2x/100x) × 100 = 100x Or, x = 2.235 Therefore, actual cost price = 100x = Rs. 223.2
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