Question
A shopkeeper earned a profit of 28% on a gadget, while
another shopkeeper sold the same gadget for a 20% profit. If the first shopkeeper’s profit was Rs. 64 more than the second shopkeeper’s profit, what was the cost price of the gadget?Solution
ATQ;
ATQ,
Let the cost price of the gadget = Rs. ‘x’
Selling price of the gadget for the first shopkeeper = Rs. ‘1.28x’
Selling price of the gadget for the second shopkeeper = Rs. ‘1.20x’
ATQ;
(1.28x – 1.20x) = 64
Or, 0.08x = 64
So, x = 64 / 0.08 = 800
Therefore, cost price of the gadget = Rs. 800
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