Question
A machine is sold at 20% profit.
If it had been sold for Rs. 1,500 more, the profit would have been 35%. Find the selling price of the machine if it is sold at a 12% profit.Solution
ATQ, Let the cost price of the machine = Rs. 100x
So, selling price of the machine = 100x × 1.20 = Rs. 120x
We have,
120x + 1500 = 100x × 1.35
Or, 135x – 120x = 1500
So, x = 1500 ÷ 15 = Rs. 100
Required selling price = 112 × 100 = Rs. 11,200
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