A man sells an article at a 20% profit. If he had bought it at 20% less and sold it for Rs. 75 less, he would have gained 25%. What is the cost price?
Q1. A man sells an article at a 20% profit. If he had bought it at 20% less and sold it for Rs. 75 less, he would have gained 25%. What is the cost price?
Answer: Rs. 375
Explanation: Let's denote the cost price as CP. Original SP = 1.2 * CP. New CP = 0.8 * CP, New SP = 1.25 * 0.8 * CP = CP. Difference between original SP and new SP = 1.2 * CP - CP = 0.2 * CP = 75.