Question
An article is sold at a profit of 30%. Let 'a' (in Rs.)
represent the cost price, 'b' (in Rs.) the selling price, and 'c' (in Rs.) the profit earned. Given that the total of these three values is 3120, i.e., (a + b + c) = 3120, determine the value of 'a'.Solution
Let the cost price of article be Rs. '10y'
Selling price of article = 1.3 X 10y = Rs. '13y'
Profit earned = 13y - 10y = Rs. '3y'
So, 10y + 13y + 3y = 3,120
Or, 26y = 3,120
Or, 'y' = 120
Therefore, cost price of article = a = 120 X 10 = Rs. 1,200
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