A person sells a TV at 10% below price, had he received 1494 dollars more ,he would have made a profit of 12.5 %. What was the cost price?
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Let the CP = X
SP = X- 10% of X = 0.9X
If he had taken 1494 dollars more,
SP = 0.9X+ 1494 --------------- (1)
According to question,
Profit = 12.5%
0.9X + 1494 = X + 12.5% of X
0.9X - 1.125X = - 1494
0.225X = 1494
X = 6640.
So, CP = Dollars 6640.