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.
1 answer:
Answer:
Cost Price = Rs 10000
Step-by-step 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
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