New NABARD Grade A 2024 Results out!! Register here for a free live workshop on Feb 26, 2025 at 5 PM. Only on Zoom.

    Question

    An item is sold for Rs. 2,360, resulting in a profit of x%.

    If the same item is sold for Rs. 2,500, the profit increases to (x + 7)%. Determine the value of x.
    A 12 Correct Answer Incorrect Answer
    B 15 Correct Answer Incorrect Answer
    C 18 Correct Answer Incorrect Answer
    D 20 Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article be Rs. 'a'
    According to the question,
    (x + 7) % of 'a' + a - (x% of 'a' + a) = 2500 - 2360
    7% of 'a' = 140
    Or, 'a' = (140/0.07) = 2000
    Percentage profit when the article is sold for Rs. 2,360
    = {(2360 - 2000) /2000} X 100 = 18%
    Therefore, 'x' = 18

    Practice Next