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Question

# An article is sold at a profit of 20%. If both the cost price and selling price were to be Rs. 20 less the profit would be 10% more. Find the cost price of the article

A
Rs. 120
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B
Rs. 80
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C
Rs. 60
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D
Rs. 75
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Solution

## The correct option is C Rs. 60Let the cost price be xSince profit is given as 20%, selling price will be (1+0.2)xThus, selling price would be 1.2x.When C.P. and S.P. are Rs. 20 less then,C.P. =x−20S.P. =1.2x−20According to the given condition,Now, 1.2x−20=1.3×(x−20)⇒1.2x−20=1.3x−26⇒1.3x−1.2x=−20+26⇒0.1x=6⇒x=60therefore, the cost price of the article is Rs. 60.

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