An orange vendor makes a profit of 20 % by selling oranges at a certain price. If he charges Rs. 1.2 higher per orange he would gain 40 %. Find the original price at which he sold an orange.
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Answer / nivedita
Original price = x
Initial selling price = 1.2x
New selling price = 1.2x+1.2
Profit = 0.4= (1.2x+1.2)-x /x
0.4x=0.2x + 1.2
0.2x = 1.2
x = 6
The original price at which he sold an orange is 6 bucks.
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