Question

an item was sold at loss of 20%. had it been sold for rs3000 more then the profit would have been 10%. What is the cost price of the item

Answer 1

10000

Explanation:

Assumed that the cost price of the item is x.

It was sold at a loss of 20%:

therefore the price sold was 0.8x

If it was sold at a profit of 10%:

the price sold would have been 1.1x

Since the difference in price is 3000:

1.1x - 0.8x = 3000

0.3x = 3000

x = 10000