Question 767351: respected sir 1] a man sold an article at a profit of 25% . if he had bought for 20% less and sold for rs 63 less, he would have gained 30%. what is the cost price of article?
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Answer by htmentor(1343)   (Show Source):
You can put this solution on YOUR website! Let P = the purchase price
Let S = the selling price
Since the article was sold for a 25% profit we have
S = 1.25P
If he had bought it for 20% less, the price would have been 0.8P
If sold for 63 less, the selling price would have been S - 63, and at this price he would have made a 30% profit
In equation form, this is:
S - 63 = 1.3*0.8P
Substitute the 1st equation in the 2nd:
1.25P - 63 = 1.3*0.8P
Solve for P:
1.25P - 1.04P = 63
0.21P = 63
P = 300
So the original price was 300
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