A shopkeeper sells an article for Rs 78 and earns double the profit that he would have earned on selling this article for Rs 69. Find the C.P of this article.
| Question | A shopkeeper sells an article for Rs 78 and earns double the profit that he would have earned on selling this article for Rs 69. Find the C.P of this article. | |
| Type | multiple_choice | |
| Option | 62 | incorrect |
| Option | 61.5 | incorrect |
| Option | 55.5 | incorrect |
| Option | 60 | correct |
| Solution | Apply formula: Profit = S.P – C.P ATQ, the shopkeeper earns the double profit that he would have earned had he sold it for Rs 69. Profit% = 2 (profit %) S.P – C.P = 2* (S.P – C.P) Let C.P = x 78 – x = 2 * (69 – x) 78- x= 138 – 2x x= 138 – 78 x= 60 Hence, the cost price of the article = 60. | |