The cost price of an article is increased by 15% and later the new price is decreased by 15%. If the latest price of the article is Rs. 19,550, find the original cost price of the article.
Given:
Increase in CP = 15%
Decrease in new price = 15%
Latest price = Rs. 19,550
Formula Used:
Solution:
19550 = CP × 1.15 × 0.85
1.15 × 0.85 = 0.9775
CP = 19550 ÷ 0.9775
CP = 20000
Original Cost Price = Rs. 20,000
Alternate Method:
Net change % = a + b + (ab / 100)
Here, a = +15%, b = -15%
Net change % = 15 - 15 + (15 × -15)/100 = -2.25%
So latest price is 2.25% less than original.
0.9775x = 19550 → x = 20000
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