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      Question

      A trader marked an article 50% above its cost price and

      sold it after allowing a discount of 30%. If the transaction resulted in a profit of Rs. 32, then find the cost price of the article
      A Rs. 620 Correct Answer Incorrect Answer
      B Rs. 650 Correct Answer Incorrect Answer
      C Rs. 600 Correct Answer Incorrect Answer
      D Rs. 640 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Let the cost price of the article be Rs. β€˜x’ Marked price of the article = x Γ— 1.5 = Rs. β€˜1.5x’ Selling price of the article = 1.5x Γ— 0.7 = Rs. β€˜1.05x’ Profit = 1.05x – x = Rs. β€˜0.05x’ ATQ; 0.05x = 32 So, x = 640 Therefore, cost price of the article is Rs. 640.

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