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    Question

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

    sold it after allowing a discount of 20%. If the transaction resulted in a profit of Rs. 200, then find the cost price of the article
    A Rs. 1000 Correct Answer Incorrect Answer
    B Rs. 1200 Correct Answer Incorrect Answer
    C Rs. 1300 Correct Answer Incorrect Answer
    D Rs. 1800 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 × 1.50 = Rs. ‘1.5x’ Selling price of the article = 1.5x × 0.8 = Rs. ‘1.2x’ Profit = 1.2x – x = Rs. ‘0.2x’ ATQ; 0.02x = 200 So, x = 1000 Therefore, cost price of the article is Rs. 1000.

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