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Question : A radio is sold at a profit of 20%. Had it been sold for Rs. 60 more the profit would have been 30%. The cost price of the radio is:

Option 1: Rs. 500

Option 2: Rs. 600

Option 3: Rs. 550

Option 4: Rs. 620


Team Careers360 24th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Rs. 600


Solution : Let the initial cost of the radio be $x$.
According to the question,
$x+\frac{20x}{100}+60=x+\frac{30x}{100}$
⇒ $60=\frac{30x}{100}-\frac{20x}{100}$
⇒ $60=\frac{10x}{100}$
⇒ $x=600$
Hence, the correct answer is Rs. 600.

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