Q.3. A briefcase was sold at a profit of 10%. If the cost price was 5% less and it was sold for Rs.7 more, the gain would have been 20%. Find the cost price of the briefcase?

Asked by sonali gupta | 30th May, 2013, 01:22: PM

Expert Answer:

Let the CP of the briefcase be Rs x
Profit = 10% x = 0.1x
SP = CP + Profit = 1.1x
 
If CP was 5% less i.e. CP' = 0.95x
and SP = 1.1x + 7
then profit = 20%
i.e.profit = 20% of CP' = 0.2*0.95x = 0.19x
Hence SP = CP' + profit = 0.19x + 0.95x = 1.14x
Now, 1.1x + 7 = 1.14x
7 = 0.04x
x = Rs175
Hence CP of the briefcase is Rs 175

Answered by  | 31st May, 2013, 06:25: AM

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