Question 47:
An article is sold at a profit of 20%. If the selling price had been increased by ₹100, the profit percentage would have doubled. What was the cost price of the article?
Options :
- a) ₹200
- b) ₹500
- c) ₹250
- d) ₹400
correct answer : b)
Explanation :
Initial Selling Price SP1 = 1.20 CP.
Doubled profit = 40% ⇒ New Selling Price SP2 = 1.40 CP.
Given SP2 – SP1 = 100 ⇒ 1.40 CP – 1.20 CP = 100 ⇒ 0.20 CP = 100 ⇒ CP = 100 / 0.20 = ₹500.