An electric pump was sold at a profit of 15 % | vedclass

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Question

(C) Let the Cost Price $(CP)$ of the electric pump be $x$.According to the first condition, the profit is $15 \%$, so the first selling price $(SP)_1

Vedclass · Accepted Answer

$575$

Vedclass · Answer

(C) Let the Cost Price $(CP)$ of the electric pump be $x$.According to the first condition, the profit is $15 \%$, so the first selling price $(SP)_1 = x + 0.15x = 1.15x$.According to the second condition, if the selling price $(SP)_2$ is $Rs. 600$, the profit is $20 \%$.Using the formula: $SP = CP 	imes (1 + 	ext{Profit } \%)$$600 = x 	imes (1 + 0.20)$$600 = 1.20x$$x = \frac{600}{1.20} = 500$.So, the Cost Price $(CP)$ is $Rs. 500$.Now, calculate the former selling price $(SP)_1$:$(SP)_1 = 1.15 	imes 500 = 575$.Therefore, the former selling price was $Rs. 575$.

An electric pump was sold at a profit of $15 \%$. Had it been sold for $Rs. 600$, the profit would have been $20 \%$. What was the former selling price in $Rs.$?

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