Question

The cost price of an article is ₹ (80x + 100) and selling price of the same article is ₹ (50x + 290). If profit percent on this article is 8%, then, what is the value of x?

1. 3
2. 8
3. 5
4. 4

Answer 1

Correct Answer - Option 3 : 5

Formula Used:

Profit % = (Profit/CP) × 100

Calculation:

CP = (80x + 100)

SP = (50x + 290)

Profit = SP – CP

⇒ (50x + 290 – 80x – 100)

⇒ (190 – 30x)

∴ Profit % = Profit/CP × 100

⇒ 8 = [(190 – 30x)/(80x + 100)] × 100

⇒ 8(80x + 100) = 100(190 – 30x)

⇒ 640x + 800 = 19,000 – 3,000x

⇒ 640x + 3000x = 19,000 – 800

⇒ 64x + 300x = 1900 – 80

⇒ 364x = 1820

⇒ x = 1820/364

⇒ x = 5

So, the value of x is 5.