Discussion :: Profit and Loss
- 5% more is gained by selling a cow for Rs 1010 than by selling it for Rs 1000. What is the C.P of the cow?
Answer : Option C
Explanation :
ATQ, the difference between profit % = 5
The difference between S.P = 10
Apply formula:
C.P = (100* Difference between S.P)/ (% difference in profit)
Hence, the C.P = (100 * 10)/ 5 = 200.
The difference between profit = 5%
Let the C.P = x
And S.P2= 1010, S.P1 = 1000
i.e., P2 % - P1% = 5.................................................... (i)
Apply formula of percent
P% = (Profit/C.P) * 100
And profit = S.P - C.P.
Now according to equation (i)
((S.P 2- x)/ x)*100 - ((S.P 1- x)/ x)*100 = 5
((1010- x)/ x)*100 - ((1000- x)/ x)*100 = 5
Or, take (100/x) as common from the whole equation.
i.e., (100/x) [(1010-x) - (1000-x)] = 5
(100/x) [1010 - x - 1000 + x] = 5
Or, (100/x) * 10 = 5
Or, 5x = 1000
Hence, x = 200, or C.P = Rs 200.
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