A sells an article to B at a profit of 15%. B then sells it to C, making a profit of 20%. If C paid Rs.690 What is the original price of the article?
Question
A sells an article to B at a profit of 15%. B then sells it to C, making a profit of 20%. If C paid Rs.690 What is the original price of the article?
Solution
Step 1: First, we need to find out how much B paid for the article. Since B sold the article to C at a profit of 20%, this means the price C paid (Rs.690) is 120% of the price B paid. So, we can set up the equation 120/100 * Price B = Rs.690.
Step 2: Solving the equation from step 1 for Price B gives us Price B = Rs.690 * (100/120) = Rs.575.
Step 3: Now, we know that A sold the article to B at a profit of 15%. This means the price B paid (Rs.575) is 115% of the original price. So, we can set up the equation 115/100 * Original Price = Rs.575.
Step 4: Solving the equation from step 3 for the Original Price gives us Original Price = Rs.575 * (100/115) = Rs.500.
So, the original price of the article is Rs.500.
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