When an article is sold for ₹720, there is a profit of x%. When the same article is sold for ₹750, profit is (x + 5)%. What is the value of is the value of x?
Answer & explanation
Correct answer: option 1
The two selling prices are = 750 and 720
Let the cost price = y
So, according to the question =
The two profits are = x% and x+5%
and the difference in profits are = 5%
\(\frac{750 - y}{y}\) - \(\frac{720 - y}{y}\) = \(\frac{5}{100}\)
\(\frac{30}{y}\) = \(\frac{5}{100}\)
CP = y = 600
Now the profit% = \(\frac{720 - 600}{600}\) × 100 = 20%