When an article was sold for ₹696, the percent profit earned was P%. When the same article was sold for ₹841, the percent profit earned was (P + 25)%. Determine the value of P.

Question

Accepted Answer

Let's denote the cost price of the article as ₹x. From the given information:

1. When the selling price is ₹696, profit percentage is P%:  
   ₹696 = x + (P/100) × x = x(1 + P/100)

2. When the selling price is ₹841, profit percentage is (P + 25)%:  
   ₹841 = x + ((P + 25)/100) × x = x(1 + (P + 25)/100)

3. Calculating the difference in selling prices:  
   ₹841 - ₹696 = ₹145

4. This difference represents 25% of the cost price:  
   25% of x = ₹145  
   x × 25/100 = ₹145  
   x = ₹145 × 100/25 = ₹580

5. Using the first condition to find P:  
   ₹696 = ₹580 × (1 + P/100)  
   P/100 = (₹696 - ₹580)/₹580 = ₹116/₹580 = 0.2  
   P = 20%

Therefore, the value of P is 20%.

Answer

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