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 articleSolution
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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