Sanskrit purchased a book and sold it at a profit of 10%. If she had bought it at 20% less than the original cost price and sold it for ₹50 more than the original selling price, her profit percentage would have been 40%. Find the cost price of the book.
Show answer & explanation
Correct answer: A
Explanation
Given:
Original Cost Price = x
Original Selling Price = 1.1x
According to the formula:
New CP = 0.8x
New SP = 1.1x + 50
Profit % = (Profit / CP) × 100
Profit = (1.1x + 50 − 0.8x) = 0.3x + 50
(0.3x + 50) / (0.8x) = 40/100
(0.3x + 50) / (0.8x) = 2/5
5(0.3x + 50) = 2(0.8x)
1.5x + 250 = 1.6x
250 = 0.1x
x = 2500 Rupees