Question: Azim sells an object to Belal at a profit of 15%, Belal sells that object to karim for Tk. 1012 and makes a profit of 10%. At what cost did Azim purchase the object?
Solution:
Let the actual cost price at which Azim bought the object be x
When Azim sells the object to Belal
Profit % = 15%
∴ selling price of object = [(100 + 15)/100] × x = 1.15x
Now, this cost price of the object for Belal
When Belal sells the object to karim
Selling Price = Tk. 1012
Profit % = 10%
∴ Selling price = [(100 + 10)/100] × 1.15x
⇒ 1012 = [(100 + 10)/100] × 1.15x
⇒ x = (1012 × 1000)/(11 × 115)
∴ x = 800
Therefore, the price at which Azim bought the object is Tk. 800.