A shopkeeper earns 70% profit on selling an article. If he increases the selling price by Rs. 338, the profit becomes 83%. Find the cost price.
Show answer & explanation
Correct answer: A
Explanation
Let the cost price = ₹x
Selling price at 70% profit = 170x / 100
Selling price at 83% profit = 183x / 100
Difference between the two selling prices = ₹338
(183x − 170x) / 100 = 338
13x / 100 = 338
x = 338 × 100 / 13 = ₹2600