Ramesh incurred a loss of 10% after selling a phone. If be had sold the phone for Rs1,260 more, then he would have made a
profit of 5%. What is the cost price of the phone?
This questions was previously asked in
SSC MTS 14th July 2022 Shift-3
Explanation:
- Ramesh initially sells his phone at a 10% loss.
- If he sold it for Rs1,260 more, he’d make a 5% profit.
- To find the cost price (CP), we denote it as 'x'.
- At a 10% loss, the selling price (SP) is 90% of the cost price.
- At a 5% profit, the selling price would be 105% of the cost price.
- Equation 1: SP = 0.9x
- Equation 2: New SP = 1.05x = (0.9x + 1,260) from the Rs1,260 more sale.
- Solve:
- 1.05x = 0.9x + 1,260
- 0.15x = 1,260
- x = 1,260 / 0.15 = Rs8,400
- The correct answer is Option 4: Rs8,400
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By: santosh