Question

2. A business man sold an article at a gain of 10%. Had he sold the article at a gain of 20% he would have gained Rs. 55 more. Find the cost price of the article.​

Answer 1

Explanation:

Let SP1 be x

P%=10%

CP=SP×100/100+%P

= x+100/100+10

= 100x/110

SP2= x+55

CP= SP×100/100+%P

or 100x/110= x+55×100/120

or x/110=x+55/120

or 24x-22x=22×55

or 2x=1210

or x=1210/2

or x=605

Now,

CP=100x/110

=100×605/110

=60500/110

=Rs 550