A person sells an article at a profit of 12% If he had purchased it for 12% less and sold it for Rs. 9 less, he would have gained 27%. What is the original cost price of the article?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. Rs. 3750
Let the cost price of the article be 100x
⇒ Selling price = 112x (using multiplying factor)
If he had purchased it for 12% less and sold it for Rs 9 less,
Cost price = 100x × 0.88
⇒ 88x
⇒ Selling price - Cost price = Profit
⇒ 112x - 9 - 88x = 88x × 27/100
⇒ 24x - 9 = 2376x/100
⇒ x(24 - 23.76) = 9
⇒ x = 9/0.24
⇒ x = 37.5
⇒ Original cost price = 100x = 3750