📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    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.
    A Rs.300 Correct Answer Incorrect Answer
    B Rs.120 Correct Answer Incorrect Answer
    C Rs.150 Correct Answer Incorrect Answer
    D Rs.100 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    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.

    Practice Next
    More Profit and loss Questions
    ask-question