Question : A wristwatch is sold for INR 1,200 at a profit percentage equal to its cost price. Find the cost price of the wristwatch.
Option 1: INR 400
Option 2: INR 250
Option 3: INR 350
Option 4: INR 300
Correct Answer: INR 300
Solution : Let the cost price of the watch be $x$. The selling price of the wristwatch = INR 1,200 Profit percentage = $\frac{1200-x}{x}×100$ According to the question, $x=\frac{1200-x}{x}×100$ $⇒x^2+100x-120000=0$ $⇒x^2+400x-300x-120000=0$ $⇒(x-300)(x+400)=0$ $\therefore x=300,-400$ $x$ can't be negative, because the price of the watch can't be negative. So, $x=300$ Hence, the correct answer is INR 300.
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