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      Question

      A trader marks an article at some price (M rupees). He

      sells it under two different schemes: Scheme 1: He gives a 20% discount on the marked price and earns a profit of Rs 60. Scheme 2: He gives a 10% discount on the marked price and earns a profit of Rs 105. The cost price of the article is the same in both schemes. What is the cost price of the article?
      A Rs.250 Correct Answer Incorrect Answer
      B Rs.300 Correct Answer Incorrect Answer
      C Rs.450 Correct Answer Incorrect Answer
      D Rs.250 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      ATQ, Let cost price = C, marked price = M. Scheme 1: SP₁ = 80% of M = 0.8M Profit₁ = SP₁ − C = 60 So, 0.8M − C = 60 …(1) Scheme 2: SP₂ = 90% of M = 0.9M Profit₂ = SP₂ − C = 105 So, 0.9M − C = 105 …(2) Subtract (1) from (2): (0.9M − C) − (0.8M − C) = 105 − 60 0.1M = 45 M = 450 Now from (1): 0.8 × 450 − C = 60 360 − C = 60 C = 360 − 60 = 300 Cost price = Rs 300.

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