A person sells an article at 10% below its cost price. Had he sold it for Rs332 more, he would have made a profit of 20%. What is
the original selling price (in Rs) of the article?
This questions was previously asked in
SSC CGL 3rd March 2020 Shift-1
Explanation:
- Let's denote the cost price of the article as \( x \).
- The article is sold at 10% below its cost price, so the selling price is \( 0.9x \).
- If sold for Rs332 more, the selling price becomes \( 0.9x + 332 \).
- To achieve a 20% profit, the selling price should be \( 1.2x \).
- So, we have the equation: \( 0.9x + 332 = 1.2x \).
- Solving for \( x \), we get:
\[
0.9x + 332 = 1.2x \implies 332 = 1.2x - 0.9x \implies 332 = 0.3x \implies x = \frac{332}{0.3} = 1106.67
\]
- The original selling price \( 0.9x \) is:
\[
0.9 \times 1106.67 = 996
\]
- So, the original selling price is Rs. 996.
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By: santosh