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Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?
- a)Rs. 4687
- b)Rs. 4600
- c)Rs. 3750
- d)Rs. 3500
- e)None of these
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Ankit sells an article at a profit of 18%. Had he bought it for 12% l...
Let the CP be Rs. 100 and SP be Rs. 118
Now, new CP = Rs. 88 and new SP = 88 × 125/100 = Rs. 110
Difference = 118 – 110 = Rs.8
At, Rs. 8 difference, CP = Rs. 100
At 300 difference, CP = 100 × 300 /8 = Rs. 3750
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Ankit sells an article at a profit of 18%. Had he bought it for 12% l...
Given:
- Ankit sells an article at a profit of 18%.
- If he had bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%.
To find:
The cost price of the article.
Assumption:
Let the cost price of the article be 'x' rupees.
Solution:
Step 1: Calculate the selling price (SP) of the article.
Given that Ankit sells the article at a profit of 18%, the selling price can be calculated using the formula:
SP = CP + Profit
SP = x + 0.18x
SP = 1.18x
Step 2: Calculate the new cost price (CP1) and selling price (SP1) if Ankit bought the article for 12% less and sold it for Rs. 300 less.
The new cost price can be calculated by subtracting 12% from the original cost price:
CP1 = x - 0.12x
CP1 = 0.88x
The selling price can be calculated by subtracting Rs. 300 from the original selling price:
SP1 = 1.18x - 300
Step 3: Calculate the profit percentage if the article was bought for 12% less and sold for Rs. 300 less.
Profit percentage can be calculated using the formula:
Profit Percentage = (Profit/CP1) * 100
Profit Percentage = ((SP1 - CP1)/CP1) * 100
Profit Percentage = ((1.18x - 300 - 0.88x)/0.88x) * 100
Profit Percentage = (0.3x - 300)/0.88x * 100
Step 4: Set up the equation using the given information.
According to the given information, if Ankit bought the article for 12% less and sold it for Rs. 300 less, he would have gained 25%. This can be written as:
Profit Percentage = 25
Step 5: Solve the equation to find the value of 'x'.
Substituting the value of Profit Percentage in the equation:
(0.3x - 300)/0.88x * 100 = 25
(0.3x - 300) * 100 = 25 * 0.88x
30x - 30000 = 22x
8x = 30000
x = 30000/8
x = 3750
Answer:
Therefore, the cost price of the article is Rs. 3750. Hence, option C is the correct answer.
- Ankit sells an article at a profit of 18%.
- If he had bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%.
To find:
The cost price of the article.
Assumption:
Let the cost price of the article be 'x' rupees.
Solution:
Step 1: Calculate the selling price (SP) of the article.
Given that Ankit sells the article at a profit of 18%, the selling price can be calculated using the formula:
SP = CP + Profit
SP = x + 0.18x
SP = 1.18x
Step 2: Calculate the new cost price (CP1) and selling price (SP1) if Ankit bought the article for 12% less and sold it for Rs. 300 less.
The new cost price can be calculated by subtracting 12% from the original cost price:
CP1 = x - 0.12x
CP1 = 0.88x
The selling price can be calculated by subtracting Rs. 300 from the original selling price:
SP1 = 1.18x - 300
Step 3: Calculate the profit percentage if the article was bought for 12% less and sold for Rs. 300 less.
Profit percentage can be calculated using the formula:
Profit Percentage = (Profit/CP1) * 100
Profit Percentage = ((SP1 - CP1)/CP1) * 100
Profit Percentage = ((1.18x - 300 - 0.88x)/0.88x) * 100
Profit Percentage = (0.3x - 300)/0.88x * 100
Step 4: Set up the equation using the given information.
According to the given information, if Ankit bought the article for 12% less and sold it for Rs. 300 less, he would have gained 25%. This can be written as:
Profit Percentage = 25
Step 5: Solve the equation to find the value of 'x'.
Substituting the value of Profit Percentage in the equation:
(0.3x - 300)/0.88x * 100 = 25
(0.3x - 300) * 100 = 25 * 0.88x
30x - 30000 = 22x
8x = 30000
x = 30000/8
x = 3750
Answer:
Therefore, the cost price of the article is Rs. 3750. Hence, option C is the correct answer.
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Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Ankit sells an article at a profit of 18%. Had he bought it for 12% less and sold it for Rs. 300 less, he would have gained 25%. What is the cost price of the article?a)Rs. 4687b)Rs. 4600c)Rs. 3750d)Rs. 3500e)None of theseCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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