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An article is sold at 20% profit. If its cost price is increased by $5

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Math Expert
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Joined: 02 Sep 2009
Posts: 56257
An article is sold at 20% profit. If its cost price is increased by $5  [#permalink]

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New post 25 Jun 2019, 02:19
00:00
A
B
C
D
E

Difficulty:

  65% (hard)

Question Stats:

44% (02:50) correct 56% (02:39) wrong based on 18 sessions

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Status: Learning stage
Joined: 01 Oct 2017
Posts: 1028
WE: Supply Chain Management (Energy and Utilities)
Re: An article is sold at 20% profit. If its cost price is increased by $5  [#permalink]

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New post 25 Jun 2019, 12:45
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Bunuel wrote:
An article is sold at 20% profit. If its cost price is increased by $50 and at the same time, if its selling price is also increased by $30, the percentage of profit decreases by \(\frac{10}{3}\)%. Find the cost price.

(A) 650
(B) 850
(C) 1000
(D) 3000
(E) 4500


Initial scenario:-
Let the CP be 'x'.
SP=1.2x

Amended scenario:-
CP=x+50
SP=1.2x+30

%Profit=\(20-\frac{10}{3}=\frac{50}{3}%\)
Or, \(\frac{1.2x+30-x-50}{x+50}*100=\frac{50}{3}\)
Or, 6(0.2x-20)=x+50
Or, 1.2x-120=x+50
Or, 0.2x=170
\(x=\frac{1700}{2}=850\)

Ans. (B)
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Re: An article is sold at 20% profit. If its cost price is increased by $5   [#permalink] 25 Jun 2019, 12:45
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