A person sells a product at a profit of 15%. If he had bought it for 10% less and sold it for ₹18 less, he would have gained 25%. Find the cost price of the product.
Show answer & explanation
Correct answer: D
Explanation
Let the Cost Price = x
First Selling Price (SP₁) = 1.15x
New Cost Price = 0.9x
New Selling Price = SP₂ = 1.15x − 18
Based on a 25% profit = SP₂ = 1.25 × 0.9x
1.15x − 18 = 1.125x
1.15x − 1.125x = 18
0.025x = 18
x = 720
Cost Price = ₹720