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The selling price of an article is 60% more than the profit made. If the profit on the article increases by 20%, while the selling price increases by 60%, then what is the percentage increase in cost price of the article?
  • a)
    105.50%
  • b)
    111.33%
  • c)
    126.67%
  • d)
    133.33%
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
The selling price of an article is 60% more than the profit made. If ...
Solution:

Let's assume the cost price of the article is 'C'.

Given that the selling price of the article is 60% more than the profit made. We can calculate the profit as follows:

Profit = Selling Price - Cost Price

Profit = 60% of Profit

Profit = (60/100) * Profit

Profit = (3/5) * Profit

Now, let's find the selling price:

Selling Price = Cost Price + Profit

Selling Price = C + (3/5) * Profit

We are also given that the profit on the article increases by 20% and the selling price increases by 60%.

Calculating the new profit:

New Profit = Old Profit + 20% of Old Profit

New Profit = Profit + (20/100) * Profit

New Profit = (5/5) * Profit + (1/5) * Profit

New Profit = (6/5) * Profit

Calculating the new selling price:

New Selling Price = Old Selling Price + 60% of Old Selling Price

New Selling Price = Selling Price + (60/100) * Selling Price

New Selling Price = Selling Price + (3/5) * Selling Price

New Selling Price = (5/5) * Selling Price + (3/5) * Selling Price

New Selling Price = (8/5) * Selling Price

Since Selling Price = Cost Price + Profit, we can substitute the values and simplify the equation:

New Selling Price = (8/5) * (C + Profit)

New Selling Price = (8/5) * (C + (3/5) * Profit)

New Selling Price = (8/5) * (C + (3/5) * (6/5) * Profit)

New Selling Price = (8/5) * (C + (18/25) * Profit)

New Selling Price = (8/5) * (C + (18/25) * (5/5) * Profit)

New Selling Price = (8/5) * (C + (18/25) * (5/5) * (C + Profit))

New Selling Price = (8/5) * (C + (18/25) * (5/5) * (C + (3/5) * Profit))

Now, let's simplify the equation further:

New Selling Price = (8/5) * (C + (18/25) * (5/5) * (C + (3/5) * (3/5) * Profit))

New Selling Price = (8/5) * (C + (18/25) * (5/5) * (C + (9/25) * Profit))

New Selling Price = (8/5) * (C + (18/25) * (5/5) * (C + (9/25) * (6/5) * Profit))

New Selling Price = (8/5) * (C + (18/25) * (5/5) * (C + (9/25) * (6/5) * (5/5) * Profit))

New Selling Price = (8/5) * (C + (18/25) * (5/5) * (C + (9
Free Test
Community Answer
The selling price of an article is 60% more than the profit made. If ...
Let initial profit on article = Rs. 100
Initial SP = 60% more than profit = Rs. 160
Initial CP = 160 - 100 = Rs. 60
Final SP = 60% more than initial SP = Rs. 256
Final Profit = 20% more than initial profit = Rs. 120
Final CP = 256 - 120 = Rs. 136
Percentage increase in
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The selling price of an article is 60% more than the profit made. If the profit on the article increases by 20%, while the selling price increases by 60%, then what is the percentage increase in cost price of the article?a)105.50%b)111.33%c)126.67%d)133.33%Correct answer is option 'C'. Can you explain this answer?
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The selling price of an article is 60% more than the profit made. If the profit on the article increases by 20%, while the selling price increases by 60%, then what is the percentage increase in cost price of the article?a)105.50%b)111.33%c)126.67%d)133.33%Correct answer is option 'C'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about The selling price of an article is 60% more than the profit made. If the profit on the article increases by 20%, while the selling price increases by 60%, then what is the percentage increase in cost price of the article?a)105.50%b)111.33%c)126.67%d)133.33%Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The selling price of an article is 60% more than the profit made. If the profit on the article increases by 20%, while the selling price increases by 60%, then what is the percentage increase in cost price of the article?a)105.50%b)111.33%c)126.67%d)133.33%Correct answer is option 'C'. Can you explain this answer?.
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