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

    Question

    A seller initially marked the price of an article 25%

    higher than its cost price. However, to finalize the sale, a 30% discount was offered on this marked price. If this transaction resulted in a loss of Rs. 350 for the seller, what was the original cost price of the article?
    A Rs. 3500 Correct Answer Incorrect Answer
    B Rs. 2600 Correct Answer Incorrect Answer
    C Rs. 3000 Correct Answer Incorrect Answer
    D Rs. 2400 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let cost price of article be Rs. 100x. Selling price of the article = 100x × 1.25 × 0.70 = 87.5x Or, 100x – 87.5x = 350 Or, 12.5x = 350 Or, x = 28 So, cost price of the article = Rs. 2800

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