Question
A shopkeeper bought an article and marked it 60% above
the cost price and sold it after giving a discount of 20%. Had he bought it for Rs. 300 less and sold it for Rs. 140 more, then he would have made a profit of Rs. 1000. Find the cost price of the article.Solution
Let the cost price of the article be Rs. 100x
Marked price of the article = 1.6 × 100x = Rs. 160x
Selling price of the article = 0.8 × 160x = Rs. 128x
According to the question;
(128x + 140) – (100x – 300) = 1000
Or, 28x + 440 = 1000
Or, 28x = 560
Or, x = 20
Cost price of the article = 100 × 20 = Rs. 2000
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