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Profit and Loss
A merchant makes a profit of 20% by selling an item at a certain rate. If he charges Rs.8 more on each item, he earns a profit of 60%. What is the cost price of the item?
a)Rs.16 b)Rs.25 c)Rs.20 d)Rs.36
Read Solution (Total 1)
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- c) Rs.20
Let the cost price be Rs. Y
Therefore initial selling price (at a profit of 20%) will be
Y x 120/100 = 6Y/5
Now if he charges Rs. 8 more, then he earns 60% profit.
In other words, 8 Rupees added to the selling price at 20% profit will be equal to the selling price at 60% profit.
Mathematically we can write the above statement as,
6Y/5 + 8 = Y x 160/100 = 8Y/5
6Y + 40 = 8Y
Y = Rs. 20 - 10 years agoHelpfull: Yes(1) No(0)
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