A person bought an article and sold it at a loss of 15%. If he would have sold it for Rs50 more, he could have gained 10%. What
was the original cost price of the article?
This questions was previously asked in
SSC MTS 19th July 2022 Shift-3
Explanation:
Let's break down the problem:
- The person sold the article at a 15% loss, which means the selling price (SP) was 85% of the cost price (CP).
- If sold for Rs 50 more, there would be a 10% profit, making the SP 110% of the CP.
- So, the difference between the two SPs should be Rs 50.
Let's use a bit of math:
- Let the original cost price be "x".
- 85% of x = 0.85x (current SP).
- 110% of x = 1.10x (SP for a 10% profit).
- The equation based on the Rs 50 difference:
- 1.10x = 0.85x + 50
- Solving this gives:
- 0.25x = 50
- x = 200
So, the original cost price is Rs 200.
- Option 1: Rs 260 – Too high.
- Option 2: Rs 280 – Too high.
- Option 3: Rs 160 – Too low.
- Option 4: Rs 200 – Correct answer.
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By: santosh