Question

A person sells an article at a profit of 14%. If he had purchased it for 14% less and sold it for Rs.9 less, he would have gained 18%. What is the original cost price of the article?
1. 55
2. 96
3. 72
4. 82

Answer 1

Correct Answer - Option 3 : 72

Given:

A person sells an article at a profit of 14%.

If he had purchased it for 14% less and sold it for Rs.9 less, he would have gained 18%. 

Formula used:

Profit = SP - CP

Profit% = Profit/CP × 100

Loss = CP - SP

Loss% = Loss/CP × 100

Calculation:

Let the original CP of the article be Rs. x

Profit% = 14%

SP of the article = Rs. (114x/100)

⇒ 57x/50

If CP = 86x/100 and 

SP = (57x/50) - 9

Then gain% = 18%

⇒ (57x/50) - 9 = 118 × 86x /(100 × 100)

⇒ x = 72 (approx.)

∴ the correct answer is Rs. 72 (approx.)