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      Question

      The ratio of the cost price and marked price of an

      article is 4:9, respectively. The article is sold after giving a discount of Rs. 700 such that there is a profit of 55%. Find the amount by which the article is marked up above its cost price.Β Β 
      A Rs. 1280 Correct Answer Incorrect Answer
      B Rs. 1250 Correct Answer Incorrect Answer
      C Rs. 1125 Correct Answer Incorrect Answer
      D Rs. 1800 Correct Answer Incorrect Answer

      Solution

      Let the cost price and marked price of the article be Rs. 4x and Rs. 9x, respectively Therefore, selling price of the article = 1.55 Γ— 4x = Rs. 6.2x According to the question, 9x – 6.2x = 700 Or, x = 700/2.8 = 250 Therefore, amount by which article is marked up above its cost price = 9x – 4x = 5x = Rs. 1250

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