Question : A shopkeeper gains 20% in place of a 16% loss if the selling price of an article is increased by INR 324. The cost price of the article is:
Option 1: INR 900
Option 2: INR 750
Option 3: INR 1,350
Option 4: INR 60
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Correct Answer: INR 900
Solution :
Given: A shopkeeper gains 20% in place of a 16% loss.
Difference in profit = 20 + 16 = 36%
According to the question,
⇒ 0.36 of Cost price = 324
⇒ Cost price = $\frac{324}{0.36}$
⇒ Cost price = $\frac{32400}{36}$
⇒ Cost price = INR 900
Hence, the correct answer is INR 900.
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