A tradesman sold an article at a loss of 20%. If the selling price had been increased by Rs 100 there would have been a gain of 5%. What was the cost price of the article?

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Solution

Solution:
Let the cost price of the article $= x$

Given tradesman sold an article at a loss of $20 %$
i.e., $(\frac{100 - 20}{100}) x = 0.8 x$

If the price is increased by $R s .100$

then selling price becomes $= (0.8 x + 100)$

He gains $5 %$ with selling price $= 0.8 x + 100$

Profit $= S P - C . P = (0.8 x + 100) - x$

$= 0.2 x + 100 = \frac{5}{100}$ of $C . P$

$\Rightarrow - 0.2 x + 100 = 0.05 x$

$\Rightarrow 0.25 x = 100$

$\Rightarrow x = 400$

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