Question

    'P' sold an item at a profit of

    40%. If the cost price of the item had been Rs. 150 less and its selling price had been Rs. 30 more, the profit would have been 80%. Determine the cost price of the item?
    A Rs.750 Correct Answer Incorrect Answer
    B Rs.720 Correct Answer Incorrect Answer
    C Rs.760 Correct Answer Incorrect Answer
    D Rs.700 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Let the cost price of the item be Rs. 'x' Therefore, selling price of the item = Rs. '1.4x' According to the question, New cost price of the item= Rs. (x - 150) New selling price of the item= Rs. (1.4x + 30) Or, 1.8 X (x - 150) = 1.4x + 30 Or, 1.8x - 270 = 1.4x + 30 Or, 0.4x = 300 Or, 'x' = (300/0.4) = 750 Therefore, cost price of the item= Rs.750

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