Question: An item was bought at Rs. X and sold at Y, thereby earning a profit of 20%. Had the value of X been 15% less and the value of Y been Rs. 76 less, a profit of 30% would have been earned. What was the value of X?
Options:
A) Rs. 640
B) Rs. 400
C) Rs. 600
D) Rs. 800
E) Rs. 840
Show Answer
Answer:
Correct Answer: D
Solution:
- Given, the CP of an item be Rs. x and SP of an item be Rs. y.
Here, Y = 1.2 x
If the CP of an item is 15% less = 85% of X = 0.85 X According to the question,
$ 0.85X\times \frac{130}{100}=1.2x-76 $
$ 11.05X=12X-760 $
$ \Rightarrow $ $ 12X-11.05X=760 $
$ \Rightarrow $ $ 0.95X=760 $
$ \Rightarrow $ $ X=\frac{760}{0.95} $
$ \Rightarrow $ $ X=800 $
So, CP of an item is Rs. 800.