A shopkeeper makes a 15% profit on a sale. He would have made 18% if he had sold it for ₹18 more. The cost price of the article is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. ₹600.
Let the cost price be x
Selling price at 15% profit = x + 0.15x = 1.15x
Selling price at 18% profit = x + 0.18x = 1.18x
According to the question,
⇒ 1.18x - 1.15x = 18
⇒ 0.03x = 18
⇒ x = = ₹600