A businessman sells a commodity at 10% profit. If he had bought it at 10% less and sold it for Rs. 2 less, then he would have gained $$16\frac{2}{3}$$% . The cost price of the commodity is = ?

A. Rs. 32

B. Rs. 36

C. Rs. 40

D. Rs. 48

Answer: Option C

Solution(By Examveda Team)

Let the CP₁ of commodity = 100x
Initial SP₁ = 100x + 10% of 100x = 100x + 10x = 110x
Now, If He brought table at 10% discount. Therefore CP₂ = 90x
Now SP₂ = 90x + $$16\frac{2}{3}$$% of 90x = 90x + 15x =105x
According to question
SP₁ - SP₂ = 2
⇒ 110x - 105x = 2
⇒ 5x = 2
⇒ x = $$\frac{2}{5}$$
Initial Cost of commodity = 100 × $$\frac{2}{5}$$ = Rs. 40