Question

An article is sold by A at the profit of 12%. Had article been purchased for 12% less and sold for Rs. 9 less, individual A would have gained 27%. The original cost price of the article is _________

1. Rs. 3,750
2. Rs. 3,500
3. Rs. 4,000
4. Rs. 4,250

Answer 1

Correct Answer - Option 1 : Rs. 3,750

Given:

An article is sold by A at the profit of 12%.

Had article been purchased for 12% less and sold for Rs. 9 less, individual A would have gained 27%.

Concepts used:

Profit % = (Profits/C.P.) × 100

S.P. = C.P. + Profits

Calculation:

Let C.P. of article be Rs. x.

Profit % = (Profits/C.P.) × 100

⇒ 12 = (Profits/x) × 100

⇒ Profits = 3x/25

⇒ S.P. = x + (3x/25) = 28x/25

Had article been purchased for 12% less and sold for Rs. 9 less, individual A would have gained 27%.

New C.P. = x – (12x/100) = 22x/25

⇒ New Gain % = 27

⇒ 27 = [{(28x/25) – 9 – (22x/25)}/(22x/25)] × 100

⇒ 27 = {(6x/25 -9)/(22x/25)} × 100

⇒ x = 3,750

∴ Original cost price of article is Rs. 3,750.