A trader bought an article and then sold. Had he bought at 10% less and sold at 10% more, he would have doubled his profit percentage.
Question
A trader bought an article and then sold. Had he bought at 10% less and sold at 10% more, he would have doubled his profit percentage.
Solution
The problem doesn't provide specific numbers for the cost price or selling price of the article, so let's solve it using variables.
Let's assume:
- The cost price of the article is C.
- The selling price of the article is S.
- The profit made by the trader is P = S - C.
According to the problem, if the trader had bought the article for 10% less and sold it for 10% more, he would have doubled his profit. So, we can write this as:
- The reduced cost price is 0.9C.
- The increased selling price is 1.1S.
- The new profit is P' = 1.1S - 0.9C.
According to the problem, P' is double the original profit P. So, we can write this as:
2P = P' 2(S - C) = 1.1S - 0.9C
Solving this equation will give us the relationship between the original cost price C and the selling price S.
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