Question
A product is sold at a profit of 10.5%. If it had been
sold for Rs. 375 more, the profit would have been 22.5%. Find the selling price of the product when it is sold at a 16% profit.Solution
ATQ,
Let the cost price of the product be Rs. '100m'
So, 122.5m - 110.5m = 375
⇒ 12m = 375
⇒ m = 31.25
Cost price = 100 × 31.25 = Rs. 3,125
Selling price at 16% profit = 1.16 × 3,125 = Rs. 3,625
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