When an article was sold for Rs. 696, percent profit earned was P%. When the same article was sold for Rs. 841, percent profit earned was (p + 25%). What is the value of P?

Solution(By Examveda Team)

Sale price of an article is Rs. 696, when profit = P%
Sale price of an article is Rs. 841, when profit = P + 25%
Difference in selling price
= Rs. (841 - 696)
= Rs. 145
Difference of profit percentages = P + 25% - p = 25%
∴ Let the cost price of article be Rs. x, then, 25% of x = Rs. 145
$$\eqalign{ & \Rightarrow x \times \frac{{25}}{{100}} = {\text{Rs}}.145 \cr & \Rightarrow x = \frac{{145 \times 100}}{{25}} \cr & \Rightarrow {\text{Rs}}{\text{. }}580 \cr} $$
∴ Profit = Sale Price - Cost Price
            = Rs. (696 - 580)
            = Rs. 116
$$\eqalign{ & {\text{Profit}} = {\text{p}}\% \cr & \therefore 580 \times \frac{p}{{100}} = 116 \cr & \Rightarrow {\text{p}} = \frac{{116 \times 100}}{{580}} \cr & \Rightarrow {\text{p}} = 20\% \cr} $$