Question
An item is sold for Rs. 2,360, resulting in a profit of x%.
If the same item is sold for Rs. 2,500, the profit increases to (x + 7)%. Determine the value of x.Solution
Let the cost price of the article be Rs. 'a'
According to the question,
(x + 7) % of 'a' + a - (x% of 'a' + a) = 2500 - 2360
7% of 'a' = 140
Or, 'a' = (140/0.07) = 2000
Percentage profit when the article is sold for Rs. 2,360
= {(2360 - 2000) /2000} X 100 = 18%
Therefore, 'x' = 18
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