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    Question

    The selling price of an item rises by Rs. 50 when the

    profit percentage is increased from 20% to 30%. What is the cost price of the item?
    A Rs. 250 Correct Answer Incorrect Answer
    B Rs. 500 Correct Answer Incorrect Answer
    C Rs. 400 Correct Answer Incorrect Answer
    D Rs. 300 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article be Rs. 100x Therefore, selling price of the article at 20% profit = Rs. 120x Selling price of the article at 30% profit = Rs. 130x Given, 130x – 120x = 50 Or, 10x = 50 Or, x = 5 Therefore, cost price of the article = Rs. 500

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