Question
The selling price of a product when sold at 20% profit
is Rs. 60 more than its selling price when sold at a loss of 10%. What is the cost price of the product?Solution
Let the cost price of the product = Rs. ‘100y’
According to the question,
100y × 1.20 – 100y × 0.90 = 60
Or, 120y – 90y = 60
Or, 30y = 60
So, y = 60 ÷ 30 = 2
So, cost price of the product = 2 × 100 = Rs. 200
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