Question
A gadget is marked at Rs. 1000. It is sold at a 30% profit.
The difference between the marked price and selling price is 35% of the difference between marked price and cost price. What was the cost price?Solution
ATQ,
Let the cost price be Rs. 100x
Then selling price = Rs. 100x × 1.30 = Rs. 130x
ATQ,
(1000 - 130x) = (1000 - 100x) × 0.35
Or, 1000 - 130x = 350 - 35x
Or, 650 = 95x
So, x = 6.84
So, cost price = Rs. 100 × 6.84 = Rs. 684
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