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    Question

    Ratio of MP and SP of an article is 7:3 and the article

    is sold at 20% profit. Find cost price of article, if the selling price is 150 more than its CP? TYPE 42
    A Rs.480 Correct Answer Incorrect Answer
    B Rs.500 Correct Answer Incorrect Answer
    C Rs.750 Correct Answer Incorrect Answer
    D Rs.800 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the MP and SP be 700x and 300x respectively. => 120% of CP = 300x => CP = 250x According to questions, => SP = CP + 150 => 300x = 250x + 150 => 50x = 150 => x = 3 Cost price = 250x = Rs.750

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