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      Question

      The profit earned on selling an item is 25%. If the cost

      price of the item was 20% less, and the selling price of the item was Rs. 30 more, then the profit earned would be 60%. Find the absolute reduction in the cost price of the item.
      A 200 Correct Answer Incorrect Answer
      B 150 Correct Answer Incorrect Answer
      C 190 Correct Answer Incorrect Answer
      D 225 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Let the initial cost price of the item be Rs. 100x

      So, selling price of the item = 100x × 1.25 = Rs. 125x

      So, new cost price of the item = 100x × 0.8 = Rs. 80x

      And new selling price of the item = Rs. (125x + 30)

      ATQ:

      80x × 1.60 = 125x + 30

      Or, 128x = 125x + 30

      Or, 3x = 30

      So, x = 30 / 3 = 10

      Required reduction = 100x – 80x = 20x = 20 × 10 = Rs. 200

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