Question

An article is sold at 45% profit. If its cost price is increased by $Rs.80$ and at the same time if its selling price is also increased by $Rs.70$, the percentage of profit becomes 30%. Find the cost price.

• A. $Rs.246$
• B. $Rs.226\frac{2}{3}$
• C. $Rs.293\frac{1}{3}$
• D. $Rs.226\frac{1}{3}$

Answer 1

The correct option is B $Rs.226\frac{2}{3}$

An article is sold at $45\%$ profit.

Let the C.P. of the article be $x$.

and the S.P. be $y$.

Now, C.P. is increased by Rs. $80$

So, the new C.P. will be $x+80$

Now, S.P. is also increased by Rs. $70$

So, the new S.P. will be $y+70$

The profit percentage is $30\%$

$Profit\%=\frac{Profit}{C.P.}\times 100=\frac{S.P.-C.P.}{C.P.}\times 100$

$\therefore$ We have,

$\frac{y-x}{x}\times 100=45$------------(1)

$\frac{y+70-x-80}{x+80}\times 100=30$-------------(2)

Solving for $x$ we get from (1) & (2)

$3x=680$

$\Rightarrow x=\frac{680}{3}=226\frac{2}{3}$