Question:

If the selling price of a product is increased by Rs 162, then the business would make a profit of 17% instead of a loss of 19%. What is the cost price of the product?

Updated On: Oct 7, 2024
  • Rs 540
  • Rs 450
  • Rs 360
  • Rs 600
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The Correct Option is B

Solution and Explanation

Let the cost price of the product be \(x\).

In the case of a 19% loss, the selling price is:
\(\Rightarrow\;\)\(\text{SP}_1 = x - 0.19x = 0.81x\)

In the case of a 17% profit, the selling price is:
\(\Rightarrow\;\)\(\text{SP}_2 = x + 0.17x = 1.17x\)

The increase in selling price is given as Rs 162:
\(\Rightarrow\;\)\(\text{SP}_2 - \text{SP}_1 = 162\)
\(\Rightarrow\;\)\(1.17x - 0.81x = 162\)
\(\Rightarrow\;\)\(0.36x = 162\)
\(\Rightarrow\;\)\(x = \frac{162}{0.36} = 450\)

Thus, the cost price of the product is Rs 450.

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