A certain quantity of rice was bought for ₹ x and sold for ₹ y, thereby earning a profit of 25%. Had the cost price been 20% less and the selling price has been ₹58 less, a profit of 20% would have been earned. Find the value of x.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 200.
y = 1.25x
New CP = 0.8x
New SP = y - 58 = 1.2 × 0.8x = 0.96x
⇒ 1.25x - 58 = 0.96x
⇒ 0.29x = 58
⇒ x = 200