Multiple choice

A certain quantity of rice was bought for Rs. x and sold for Rs. y, thereby earning a profit of 25%. Had the cost price been 20% less and the selling price been Rs. 58 less, a profit of 20% would have been earned. Find the value of x.

  1. 400

  2. 200

  3. 300

  4. 250
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

From the first scenario, y = 1.25x (25% profit). From the second scenario with 20% lower CP and Rs. 58 less SP, we have y - 58 = 1.2(0.8x) = 0.96x. Substituting y = 1.25x gives 1.25x - 58 = 0.96x, so 0.29x = 58, hence x = 200.

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