Question : A shopkeeper sells 105 m of cloth for Rs. 12600 at a profit of Rs. 20 per metre of cloth. What is the cost price of 20 m cloth?
Option 1: Rs. 4000
Option 2: Rs. 2000
Option 3: Rs. 1000
Option 4: Rs. 3000
Correct Answer: Rs. 2000
Solution :
Given,
A shopkeeper sells 105 m of cloth for Rs. 12600.
Profit = Rs. 20 per metre of cloth
We know that cost price = Selling price – Profit
1 metre of cloth = Rs. 20 profit
⇒ Total profit in selling 105 m of cloth = Rs. 20 × 105 = Rs. 2100
⇒ Cost Price of 105 m cloth = Rs. 12600 – Rs. 2100 = Rs. 10,500
$\therefore$ Cost Price of 20 m cloth = $\frac{10500}{105}\times20$ = Rs. 2,000
Hence, the correct answer is Rs. 2000.
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