Question : An article is sold at a 5 percent loss. If its cost price is decreased by Rs. 20 and the selling price is increased by Rs. 13, then a profit of 10 percent is earned on it. What is the original selling price of the article?
Option 1: Rs 266.66
Option 2: Rs 221.66
Option 3: Rs 283.33
Option 4: Rs 250
Correct Answer: Rs 221.66
Solution :
Let the selling price be S and the cost price be C
The selling price is 95% of the cost price: (Loss of 5%)
⇒ S = 0.95 C
If the cost price is decreased by Rs. 20
⇒ new cost price = C – 20
If the selling price is increased by Rs. 13
⇒ New selling price = S + 13
A profit of 10% is earned on the new cost price
⇒ S +13 = 1.10 × (C−20)
⇒ 0.95 C + 13 = 1.10 × (C − 20)
⇒ 0.95 C+13 = 1.10C − 22
⇒ 0.15 C = 35
⇒ C = $\frac{35}{0.15}$ = 233.33
⇒ S = 0.95 × C = 0.95 × 233.33 = 221.66
Hence, the correct answer is Rs. 221.66.
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