A trader sold an article at a loss of 5% but when he increased the selling price
Posted on 30-03-2023
Ques - A trader sold an article at a loss of 5% but when he increased the selling price by Rs. 65 he gained 3.33% on the cost price. If he sells the same article at Rs. 936, what is the profit percentage?
(a) 15%
(b) 16.66%
(c) 20%
(d) data insufficent
Solution -
Let,
The CP = 100x
SP = 100x (95/100)
SP = 95x
But,
He increased the selling price by Rs. 65 he gained 3.33% on the cost price.
SP = 100x(103.33/100)
SP = 103.33x
when he increased the selling price by Rs. 65,
103.33x - 95x = 65
8.33x = 65
x = 65 / 8.33
x = 7.80
The CP = 100x
= 100(7.80)
= 780
If he sells the same article at Rs. 936,
Profit % = [(SP - CP) / CP] × 100
Profit % = [(936 - 780) / 780] × 100
= (156/780) × 100
= 15600 / 780
= 20
Thus,
The profit percentage is 20 %.
Hence,
The correct answer is option (c) 20%.
Thank You