Question : A seller sold a bag at a profit of 12%. If he had sold it for INR 900 more, he would have gained 27%. What is the cost price of the bag?
Option 1: INR 6000
Option 2: INR 6500
Option 3: INR 5500
Option 4: INR 7000
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Correct Answer: INR 6000
Solution :
Let the cost price of the bag be INR $x$.
The bag was sold at a profit of 12%.
So, the selling price of the bag $=\frac{112x}{100}$
If the bag had been sold for INR 900 more, the profit would have been 27%.
The selling price would have been INR $\frac{127x}{100}$.
According to the question,
$\frac{112x}{100} + 900 = \frac{127x}{100}$
$⇒\frac{15x}{100}=900$
$⇒x=6000$
Hence, the correct answer is INR 6000.
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