Question
'D' sells a piece of art at a profit of 25%. Had the
profit percentage earned on selling the piece of art been numerically equal to the cost price of the piece of art, then the profit earned on selling the piece of art now would have been 300% more than previously. Find the actual cost price of the piece of art.Solution
ATQ, Let the actual cost price of the piece of art be Rs. '100x'. Therefore, selling price of the piece of art = Rs. '125x' (since profit is 25%). Therefore, profit earned = 125x - 100x = Rs. '25x'. New profit earned = 4 x 25x = Rs. '100x' (since the profit is 300% more). According to the question, 
Here, the equation simplifies directly to x = 1. Therefore, the actual cost price of the piece of art = 100x = 100 x 1 = Rs. 100.
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