Question

An item was sold at a loss of 20%. Had it been sold for Rs 3000more then the profit would have been 10%. What is the cost price of the item.

Plz help

Ans;10000

Answer 1

Cost Price = Rs 10000

Explanation:

Assume:

Cost of the item = x

Item was sold at a loss of 20%:

Loss = 20% of x = 0.2x

Item sold = x - 0.2x = 0.8x

Item sold at a profit of 10%:

Profit = 10% of x = 0.1x

item sold = x + 0.1x = 1.1x

Solve:

Difference = 1.1x - 0.8x = 0.3x

0.3x = Rs 3000

x = Rs 3000 ÷ 0.3

x = Rs 10000