Question : A shopkeeper sold an article at a loss of 20%. If he could sell it at Rs. 200 more, he could earn a profit of 5%. The cost price of the article is:
Option 1: Rs. 800
Option 2: Rs. 1,000
Option 3: Rs. 1,200
Option 4: Rs. 600
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Correct Answer: Rs. 800
Solution :
Let the cost price of the article be $x$.
The shopkeeper sold an article at a loss of 20%.
So, the selling price = $\frac{80}{100}×x$
If he could sell it at Rs. 200 more, he could earn a profit of 5%.
New selling price would be $\frac{105}{100}×x$
According to the question,
$\frac{80}{100}×x+200=\frac{105}{100}×x$
⇒ $\frac{25}{100}×x=200$
⇒ $x = 800$
Hence, the correct answer is Rs. 800.
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