A shopkeeper sold an article at a profit of 4%. If he had bought the article at 5% less and sold it at ₹30 more, then he would have made a profit of 12%. What is the cost price (in ₹) of the article?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 1,250.
Let the original CP = P
So, (1.04P + 30) - 0.95P = 0.12 × 0.95P
⇒ (1.04P + 30) - 0.95P = 0.114P
⇒ 0.024P = 30
⇒ P = 30/0.024 = 1250