Question
A trader made a profit of 18% on a product, while another
trader sold the same product for a 14% profit. If the first trader’s profit was Rs. 32 more than the second trader’s profit, what was the cost price of the product?Solution
ATQ;
Let the cost price of the product = Rs. ‘x’
Selling price of the product for the first trader = Rs. ‘1.18x’
Selling price of the product for the second trader = Rs. ‘1.14x’
ATQ;
(1.18x – 1.14x) = 32
Or, 0.04x = 32
So, x = 32 / 0.04 = 800
Therefore, cost price of the product = Rs. 800
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