Question : A dealer sold an article at a loss of 2%. Had he sold it for INR 44 more, he would have gained 20%. Find the cost price of the article.
Option 1: INR 250
Option 2: INR 300
Option 3: INR 400
Option 4: INR 200
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Correct Answer: INR 200
Solution :
Given: A dealer sold an article at a loss of 2%. Had he sold it for INR 44 more, he would have gained 20%.
Let the cost price of the article be 100%.
The first percent = – 2% and the second percent = 20%.
The difference between the percentage = 20 – (–2) = 22%.
The cost price of the article at 22% = INR 44.
The 1% of the cost price of the article = INR 2.
The 100% of the cost price of the article = INR 200.
Hence, the correct answer is INR 200.
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