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By mistake, a shopkeeper sells an article at 20% less than the original selling price and gets Rs. 150 less when compared to the original selling price. Had he sold it at the original selling price, he would have gained 20%. What is the cost price of the article?

By mistake, a shopkeeper sells an article at 20% less than the original selling price and gets Rs. 150 less when compared to the original selling price. Had he sold it at the original selling price, he would have gained 20%. What is the cost price of the article? Correct Answer Rs. 625

Given:

He sold it at the original selling price, he would have gained 20%

Calculation:

Let be assume the selling price of an article is S and the cost price is C

⇒ S - 0.80S = 150

⇒ S = 750

⇒ If he sells at the selling price then

⇒ S = C × (120/100)

⇒ 750 = C × 1.2

⇒ C = 625

∴ The required result will be 625.

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