Question : A person bought an article and sold it at a loss of 10%. If he had bought it for 30% less price and sold it for INR 90 more, then he would have earned a profit of 35%. What is the cost price of the article?
Option 1: INR 2400
Option 2: INR 2000
Option 3: INR 2100
Option 4: INR 2200
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Correct Answer: INR 2000
Solution : Let the cost price of an article be $100x$. Loss = 10% of cost price = $10x$ Selling price = cost price – loss = $100x-10x=90x$ New cost price = $100x - 30\%$ of $100x=100x-30x=70x$ Profit = 35% of cost price = $\frac{35}{100}×70x=24.5x$ New selling price = cost price + profit = $70x+24.5x=94.5x$ $94.5x = 90x + 90$ $⇒4.5x = 90$ $⇒x = \frac{90}{4.5} = 20$ $\therefore$ Cost price = 20 × 100 = INR 2000 Hence, the correct answer is INR 2000.
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