A shopkeeper sold 24 shirts, each at a profit of 20% and 16 shirts, each at a profit of 10%. If he had sold all the 40 shirts, each
at a profit of 15%, then his overall profit would have been reduced by Rs36. What is the cost price of each shirt?
This questions was previously asked in
SSC MTS 26th July 2022 Shift-3
Explanation:
- We are given two scenarios: one is the actual sale at 20% and 10% profit, and the other is a hypothetical sale at 15% profit.
- He sold 24 shirts at a 20% profit and 16 shirts at a 10% profit.
- Let the cost price of each shirt be Rs x.
- Total profit in the first scenario = \(24 \times 0.20x + 16 \times 0.10x = 4.8x + 1.6x = 6.4x\).
- Total profit in the second scenario (hypothetical) = \(40 \times 0.15x = 6x\).
- The difference in profit = \(6.4x - 6x = 0.4x\).
- We know 0.4x = Rs 36.
- Solving \(0.4x = 36\), we get \(x = 36/0.4 = 90\).
- Hence, the cost price of each shirt is Rs 90.
- Green Tick: Rs 90