By purchasing an article at 20% discount on the original price and then selling it at a price of 25% above the original price,a trader earns Rs.200 as the profit.What was the original price of the article?
Question
By purchasing an article at 20% discount on the original price and then selling it at a price of 25% above the original price,a trader earns Rs.200 as the profit.What was the original price of the article?
Solution
Let's denote the original price of the article as X.
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The trader bought the article at a 20% discount, which means he paid 80% of the original price. So, the cost price for the trader is 80/100 * X = 0.8X.
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Then, the trader sold the article at a price of 25% above the original price. So, the selling price for the trader is 125/100 * X = 1.25X.
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The trader's profit is the selling price minus the cost price, which is given as Rs. 200. So, we have the equation 1.25X - 0.8X = 200.
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Solving this equation gives X = 200 / (1.25 - 0.8) = 200 / 0.45 = Rs. 444.44 approximately.
So, the original price of the article was approximately Rs. 444.44.
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