The cost price of an article is increased by 15% and later the new price is decreased by 15%. If the latest price of the article is ₹19,550, find the original cost price of the article.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹20,000 .
Let the original cost price be x
After 15% increase, new price = x × 1.15
After 15% decrease, latest price = x × 1.15 × 0.85 = x × 0.9775
Given latest price = 19550
So, x × 0.9775 = 19550
x = 19550 ÷ 0.9775 = 20000