Question

    A man sold an article for 20% profit. If the cost price

    of the article was 'y%' less, then he would've earned 50% profit by selling the article at the same price. Find the value of 'y'.
    A 10% Correct Answer Incorrect Answer
    B 20% Correct Answer Incorrect Answer
    C 15% Correct Answer Incorrect Answer
    D 25% Correct Answer Incorrect Answer

    Solution

    Let the initial cost price of the article be Rs. '100x'

    So, selling price of the article = 100x X 1.2 = Rs. '120x'

    So, new cost price of the article = 120x ÷ 1.5 = Rs. '80x'

    So, y = {(120x - 100x) /100x} X 100 = 20%

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