Question
Download Solution PDFA fruit merchant makes a profit of 25% by selling mangoes at a certain price. If he charges Rs. 3 more on each mango, he will gain 40%. Find the cost price of one mango
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Initial profit percentage = 25%
Final profit percentage = 40%
Price increase = Rs. 3
Concept:
Cost price can be determined by comparing the difference in selling prices with the difference in profit percentages.
Solution:
The difference in profit percentages corresponds to the Rs. 3 increase in selling price.
Thus, 1% corresponds to Rs. 3/15 = Rs. 0.20
Therefore, the cost price (which is 100% of the price) = 100 × Rs. 0.20 = Rs. 20
Hence, the cost price of one mango is Rs. 20.
Last updated on Jul 8, 2025
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