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      Question

      A trader made a profit of 18% on a product, while another

      trader sold the same product for a 14% profit. If the first traderโ€™s profit was Rs. 32 more than the second traderโ€™s profit, what was the cost price of the product?
      A Rs.800 Correct Answer Incorrect Answer
      B Rs.450 Correct Answer Incorrect Answer
      C Rs.675 Correct Answer Incorrect Answer
      D Rs.520 Correct Answer Incorrect Answer

      Solution

      ATQ;
      Let the cost price of the product = Rs. โ€˜xโ€™
      Selling price of the product for the first trader = Rs. โ€˜1.18xโ€™
      Selling price of the product for the second trader = Rs. โ€˜1.14xโ€™
      ATQ;
      (1.18x โ€“ 1.14x) = 32
      Or, 0.04x = 32
      So, x = 32 / 0.04 = 800
      Therefore, cost price of the product = Rs. 800

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