Question : A man sells an article for a 15% profit. If he had sold it for INR 6 more, he would have gained 18%. The man bought the article for:
Option 1: INR 100
Option 2: INR 150
Option 3: INR 200
Option 4: INR 250
Correct Answer: INR 200
Solution :
When profit = 15% of cost price,
Selling price = Cost price + Profit
= Cost price + 15% of cost price
= 115% of cost price
New selling price = 115% of cost price + INR 6,
Profit = 18% of cost price
So, 115% of cost price + INR 6 = 118% of cost price
⇒ INR 6 = (118%–115%) of Cost price
⇒ Cost price = $\frac{6×100}{3}$ = INR 200
Hence, the correct answer is INR 200.
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