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    Question

    A trader marked an article 40% above its cost price and

    sold it after allowing a discount of 20%. If the transaction resulted in a profit of Rs. 30, then find the cost price of the article
    A Rs. 250 Correct Answer Incorrect Answer
    B Rs. 200 Correct Answer Incorrect Answer
    C Rs. 230 Correct Answer Incorrect Answer
    D Rs. 270 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 × 1.40 = Rs. ‘1.4x’ Selling price of the article = 1.4x × 0.8 = Rs. ‘1.12x’ Profit = 1.12x – x = Rs. ‘0.12x’ ATQ; 0.12x = 30 So, x = 250 Therefore, cost price of the article is Rs. 250.

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