Question

If the selling price of a product is increased by Rs 162, then the business would make a profit of 17% instead of a loss of 19%. What is the cost price of the product?

• A. Rs 540
• B. Rs 450
• C. Rs 360
• D. Rs 600

Answer 1

Answer: (B)

Rs 450

Answer 2

Let the cost price of the product be $x$.

In the case of a 19% loss, the selling price is:
\Rightarrow\;$$\text{SP}_1 = x - 0.19x = 0.81x

In the case of a 17% profit, the selling price is:
\Rightarrow\;$$\text{SP}_2 = x + 0.17x = 1.17x

The increase in selling price is given as Rs 162:
\Rightarrow\;$$\text{SP}_2 - \text{SP}_1 = 162
\Rightarrow\;$$1.17x - 0.81x = 162
\Rightarrow\;$$0.36x = 162
\Rightarrow\;$$x = \frac{162}{0.36} = 450

Thus, the cost price of the product is Rs 450.