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    Question

    On selling an item for Rs. 900, the profit earned by the

    seller is 20% more than the profit earned on selling the same item for Rs. 850. If the seller aims for a 50% profit, at what price should he sell the item?
    A Rs.650 Correct Answer Incorrect Answer
    B Rs.900 Correct Answer Incorrect Answer
    C Rs.700 Correct Answer Incorrect Answer
    D Rs.1000 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Let the cost price be Rs. 'y'. 1.2 Γ— (850 - y) = 900 - y Or, 1020 - 1.2y = 900 - y Or, 1.2y - y = 1020 - 900 So, y = (120/0.2) = 600 The required selling price = 1.5 Γ— y = 1.5 Γ— 600 = Rs.900

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