A man sells his goods at 12% profit. If he buys it for Rs. 800 less an

1.	A man sells his goods at 12% profit. If he buys it for Rs. 800 less and sells it for Rs. 600 less, he would gain 8% more. Find the initial cost price of the goods?1. Rs. 45002. Rs. 42003. Rs. 48004. Rs. 4000
Answer» Correct Answer - Option 1 : Rs. 4500 Given: Initial profit % = 12% Original CP - New CP = Rs. 800 Original SP - New SP = Rs. 600 New Profit % = 12% + 8% = 20% Formula used: Profit % = [(SP - CP)/CP] × 100 Calculation: The initial profit % = 12% = 12/100 = 3/25 Here, 3 is the profit and 20 is CP. Let, CP = 25x Profit = 3x ∴ SP = 25x + 3x = 28x New CP = 25x - 800 ------(1) New SP = 28x - 600 ------(2) ∵ New Profit % = [(New SP - New CP)/New CP] × 100 ⇒ 20 =[(28x - 600 - 25x + 800)/20x - 800] × 100 ⇒ 20/100 = (3x + 200)/(25x - 800) ⇒ 1/5 = (3x + 200)/(25x - 800) ⇒ 25x - 800 = 15x + 1000 ⇒ 10x = 1800 ⇒ x = 180 ∴ Original CP = 25x = 25 × 180 = Rs. 4500

A man sells his goods at 12% profit. If he buys it for Rs. 800 less and sells it for Rs. 600 less, he would gain 8% more. Find the initial cost price of the goods?1. Rs. 45002. Rs. 42003. Rs. 48004. Rs. 4000

Answer» Correct Answer - Option 1 : Rs. 4500

Given:

Initial profit % = 12%

Original CP - New CP = Rs. 800

Original SP - New SP = Rs. 600

New Profit % = 12% + 8% = 20%

Formula used:

Profit % = [(SP - CP)/CP] × 100

Calculation:

The initial profit % = 12%

= 12/100

= 3/25

Here, 3 is the profit and 20 is CP.

Let, CP = 25x

Profit = 3x

∴ SP = 25x + 3x = 28x

New CP = 25x - 800 ------(1)

New SP = 28x - 600 ------(2)

∵ New Profit % = [(New SP - New CP)/New CP] × 100

⇒ 20 =[(28x - 600 - 25x + 800)/20x - 800] × 100

⇒ 20/100 = (3x + 200)/(25x - 800)

⇒ 1/5 = (3x + 200)/(25x - 800)

⇒ 25x - 800 = 15x + 1000

⇒ 10x = 1800

⇒ x = 180

∴ Original CP = 25x

= 25 × 180

= Rs. 4500

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