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    Question

    An item is marked at (Y + 10)% above its cost price and

    after allowing a discount of 40%, it is sold at 1% loss. What is the value of Y?
    A 65 Correct Answer Incorrect Answer
    B 60 Correct Answer Incorrect Answer
    C 55 Correct Answer Incorrect Answer
    D 70 Correct Answer Incorrect Answer

    Solution

    Let the cost price = Rs. a
    Then, marked price = (100 + Y + 10)% of a = (110 + Y)a/100
    Selling price = (100 - 1)% of a = 0.99a
    Also, selling price = (100 - 40)% of ((110 + Y)a/100) = 3/5 * ((110 + Y)a/100)
    Then, 0.99a = 3/5 * ((110 + Y)a/100)
    110 + Y = 165
    Y = 55

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