Question : A man sold his watch at a loss of 5%. Had he sold it for Rs 56.25 more, he would have gained 10% what is the cost price of the watch in Rs?
Option 1: 370
Option 2: 365
Option 3: 375
Option 4: 390
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Correct Answer: 375
Solution :
Let the cost price of the watch be Rs. $x$.
Given that, Had he sold it for Rs. 56.25 more, he would have gained 10%.
At a loss of 5%, Selling price = $\frac{(100-5)}{100}\times x=\frac{95x}{100}$
At a gain of 10%, Selling price = $\frac{(100+10)}{100}\times x=\frac{110x}{100}$
According to the question,
$\frac{110x}{100}- \frac{95x}{100}=56.25$
⇒ $15x=5625$
⇒ $x = 375$
Hence, the correct answer is 375.
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