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    Question

    A trader marked an article 50% above its cost price and

    sold it after allowing a discount of 30%. If the transaction resulted in a profit of Rs. 26, then find the cost price of the article
    A Rs. 500 Correct Answer Incorrect Answer
    B Rs. 560 Correct Answer Incorrect Answer
    C Rs. 570 Correct Answer Incorrect Answer
    D Rs. 520 Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article be Rs. ‘x’ Marked price of the article = x × 1.5 = Rs. ‘1.5x’ Selling price of the article = 1.5x × 0.7 = Rs. ‘1.05x’ Profit = 1.05x – x = Rs. ‘0.05x’ ATQ; 0.05x = 26 So, x = 520 Therefore, cost price of the article is Rs. 520.

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