SOLUTION: A shopkeeper sells an article so as to make 25% on the cost price. If he had sold it for 50 p. more, he would have made 30% profit. What is the selling price?

Algebra ->  Finance -> SOLUTION: A shopkeeper sells an article so as to make 25% on the cost price. If he had sold it for 50 p. more, he would have made 30% profit. What is the selling price?      Log On


   

Question 761446: A shopkeeper sells an article so as to make 25% on the cost price. If he had sold it for 50 p. more, he would have made 30% profit. What is the selling price?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +c+ = the cost price
Let +s+ = the selling price
-------------------------
(1) +s+=+c+%2B+.25c+
(2) +c+%2B+.3c+=+s+%2B+50+
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Substitute (1) into (2)
(2) +c+%2B+.3c+=+c+%2B+.25c+%2B+50+
(2) +1.3c+=+1.25c+%2B+50+
(2) +.05c+=+50+
(2) +5c+=+5000+
(2) +c+=+1000+
and
(1) +s+=+c+%2B+.25c+
(1) +s+=+1.25c+
(1) +s+=+1.25%2A1000+
(1) +s+=+1250+
The selling price is $1,250
check:
(2) +c+%2B+.3c+=+s+%2B+50+
(2) +1.3%2A1000+=+1250+%2B+50+
(2) +1300+=+1300+
OK