Question

    A trader marked an article 80% above its cost price and

    sold it after allowing a discount of 40%. If the transaction resulted in a profit of Rs. 22, then find the cost price of the article
    A Rs. 265 Correct Answer Incorrect Answer
    B Rs. 285 Correct Answer Incorrect Answer
    C Rs. 275 Correct Answer Incorrect Answer
    D Rs. 295 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article be Rs. ‘x’ Marked price of the article = x × 1.8 = Rs. ‘1.8x’ Selling price of the article = 1.8x × 0.6 = Rs. ‘1.08x’ Profit = 1.08x – x = Rs. ‘0.08x’ ATQ; 0.08x = 22 So, x = 275 Therefore, cost price of the article is Rs. 275.

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