Question: When an article was sold for Rs. 696, per cent profit earned was P%. When the same article sold for Rs. 841 per cent profit earned was $ (P+25%). $ What is the value of P? [IBPS RRB (Office Assistant) 2015]
Options:
A) 10%
B) 25%
C) 15%
D) 20%
E) 30%
Show Answer
Answer:
Correct Answer: D
Solution:
- Let the CP be Rs. x.
Then, according to the question,
$ P=\frac{696-x}{x}\times 100 $ … (i)
$ P+25=\frac{841-x}{x}\times 100 $
(ii)
On subtracting Eq. (ii) and (i), we get
$ 25=\frac{84100-100x-69600+100x}{x} $
$ \Rightarrow $ $ 25=\frac{14500}{x} $
$ \Rightarrow $ $ x=\frac{14500}{25}=580 $
$ \therefore $ Cost price is Rs. 580 and selling price is Rs. 696.
$ \text{profit }%\text{ =}\frac{696-580}{580}\times 100=\frac{116}{580}\times 100=20% $