Question

A dealer sells a table at $20\%$ profit. Had he purchased it for $6\%$ lesser cost and sold for Rs. $50$ less he would have earned a profit of $25\%$. Find the cost of the table.

Answer 1

Let the cost of table $=Rs.x$

Profit $=20\%$

$SP=Cost+Profit=x+20\%$ of $x$ $=x+\frac{x}{5}=\frac{6x}{5}$

Now, New cost price $=x-\frac{6}{100}\times x$ $=\frac{94x}{100}$

New selling price $=\frac{6x}{5}-50$

New Profit = New SP - New CP $=\frac{6x}{5}-50-\frac{94x}{100}=\frac{26x}{100}-50$

New Profit $=25\%$ of New CP $=\frac{25}{100}\times \frac{94x}{100}=\frac{47x}{200}$

Hence, $\frac{47x}{200}=\frac{26x}{100}-50$

$\frac{47x-52x}{200}=-50$

$5x=200\times 50$

$x=2000Rs$

Thus, Cost Price $=Rs.2000$