Question

A cricket bat is sold at a profit of $7\%$. Had it been sold for Rs $60$ more, the profit per cent would have been $12\%$. Find the cost price of the bat.

Answer 1

Let P be the Profit and CP be the Cost Price

$7=\frac{P}{CP}\times 100\Rightarrow \frac{7}{100}=\frac{P}{CP}$

Also, $\frac{12}{100}=\frac{P+60}{CP}$

Dividing both Equations

$\frac{12}{7}=\frac{P+60}{P}\Rightarrow 12P=7P+420\Rightarrow 5P=420\Rightarrow P=84$

Now, $\frac{7}{100}=\frac{84}{CP}\Rightarrow CP=1200$