A trader bought an article and then sold. Had he bought at 10% less and sold at 10% more, he would have doubled his profit percentage.
Question
A trader bought an article and then sold. Had he bought at 10% less and sold at 10% more, he would have doubled his profit percentage.
Solution
The problem doesn't provide specific numbers for the cost price or selling price of the article, so let's solve it using variables.
Let's assume:
- The cost price of the article is C.
- The selling price of the article is S.
- The profit made by the trader is P = S - C.
According to the problem, if the trader had bought the article for 10% less and sold it for 10% more, he would have doubled his profit. So, we can write this as:
- The reduced cost price is 0.9C.
- The increased selling price is 1.1S.
- The new profit is P' = 1.1S - 0.9C.
According to the problem, P' is double the original profit P. So, we can write this as:
2P = P' 2(S - C) = 1.1S - 0.9C
Solving this equation will give us the relationship between the original cost price C and the selling price S.
Similar Questions
A shopkeeper bought an article and sold it at a gain of 10%. If he had bought it at 20% less and sold it 30 rupees more, he would have made a profit of 45%
swerA trader purchases several articles at the rate of 13 for Rs.10 and sells them at the rate of 10 for Rs.13. What is his gain/loss?
A man sold two articles for Rs.20000 each.On selling first, he gains 20% and on the other, he loses 20%.What is the profit/loss in the ?transaction?2468
On selling 100 Articles a trader makes a profit equal to the S.P of 50 articles. Find his gain %. Options :50200100none
The price of an article is decreased by 10%. Later the new price is increased by 10%. If the latest price is 990, the original price is
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.