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Question
A trader bought an article for Rs. x and sold it for Rs. 52, thereby making a profit of (x – 10) per cent on his outlay. Calculate the cost price.
Solution
C.P. of the article = Rs. x
S.P. of the article = Rs. 52
Profit = Rs. (52 – x)
We know:
Profit% = `"Profit"/"C.P." xx 100`
∴ `x - 10 = (52 - x)/x xx 100`
x2 – 10x = 5200 – 100x
x2 + 90x – 5200 = 0
(x + 130)(x – 40) = 0
x = –130, 40
Since, C.P. cannot be negative.
So, x = 40.
Thus, the cost price of the article is Rs. 40
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