Question
The profit gained from selling a product for Rs. 9,500
equals the loss when the product is sold for Rs. 6,300. If the cost price of the product had been Rs. 2,000 less and it had been sold for a profit of 20%, then what would have been the new selling price?Solution
ATQ, Let the cost price of the product be Rs. 'y'. Profit earned = Rs. (9500 - y) Loss incurred = Rs. (y - 6300) According to the initial condition, 9500 - y = y - 6300 Or, 2y = 15800 Or, 'y' = (15800 / 2) = 7900 New cost price of the product = 7900 - 2000 = Rs. 5,900 Required selling price of the product at 20% profit = 1.20 × 5900 = Rs.7,080
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