New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A trader marked an article 16% above its cost price and

    sold it after allowing a discount of 10%. If the transaction resulted in a profit of Rs. 11, then find the cost price of the article
    A Rs. 250 Correct Answer Incorrect Answer
    B Rs. 200 Correct Answer Incorrect Answer
    C Rs. 270 Correct Answer Incorrect Answer
    D Rs. 220 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 × 1.16 = Rs. ‘1.16x’ Selling price of the article = 1.16x × 0.9 = Rs. ‘1.044x’ Profit = 1.044x – x = Rs. ‘0.044x’ ATQ; 0.044x = 11 So, x = 250 Therefore, cost price of the article is Rs. 250.

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