Answer:
Rs 400
Step-by-step explanation:
Let us assume that the cost price of the article = x
Selling price = S.P
Cost price = C.P
Loss = %Loss × C.P(percentage loss × Cost Price)
S.P = C.P - Loss
In the question, Loss = 20%
S.P = x - 20x/100
Find the Lowest Common Multiple
S.P= 100x - 20x/100
S.P = 80x/100.........Equation 1
In the question, we are told if the article was sold for RS 160 more, it would have made a profit of 20%
Profit = %profit × C.P(percentage profit × Cost Price)
S.P = C.P + Profit
In the question, profit = 20%
S.P = x + 20x/100
Find the Lowest Common Multiple
S.P= 100x + 20x/100
S.P = 120x/100.........Equation 2
Hence,
Equation 2 - Equation 1 = Rs 160
= 120x/100 - 80x/100 = 160
= 40x/100 = 160
Cross multiply
40x = 100 × 160
40x = 16000
x = 16000/40
x = Rs 400
Since x = Cost price, the cost price of the table = Rs 400
