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Question
The cost price of a certain product drops by 10% and the selling price goes up by 15%. The shopkeeper was making 20% profit before the price hike, what's his current cost price if the new selling price is Rs. 2760?
The cost price of a certain product drops by 10% and the selling price goes up by 15%. The shopkeeper was making 20% profit before the price hike, what's his current cost price if the new selling price is Rs. 2760?
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Solution
The correct option is C 1800 Kg.
Original CP = X
CP after drop = 0.9X
Original SP = 1.2X (It is given that he was making 20% profit before the hike)
SP after price hike =1.15×1.2X=1.38X=2760⇒X=2000⇒CP=0.9×2000=1800
Original CP = X
CP after drop = 0.9X
Original SP = 1.2X (It is given that he was making 20% profit before the hike)
SP after price hike =1.15×1.2X=1.38X=2760⇒X=2000⇒CP=0.9×2000=1800
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