A businessman sells a commodity at 10 profit If he had bought it 10 less and sold it for rs2 less th...........

Quantitative Aptitude ( CCS) Profit and loss

A businessman sells a commodity at 10% profit. If he had bought it 10% less and sold it for rs2 less, then he would have gained 16(2/3)%. What is the cost price of the commodity?

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Explanation:

Solution:
10% profit = 1/10. So CP = 10, SP = 10+1 = 11
Now make CP 10% less, CP becomes = 9, Now there is 16(2/3)% profit So SP becomes 21/2
Original SP = 11, final = 21/2. Difference is ½
So 1/2 == 2 [Rs 2 less]
1 == 4
and 10 == 40