Question : Akshay has 30 articles, each having the same cost price. He marked the price of each article at 30% above its cost price. He sold 15 of the articles at a discount of 20% each, and the remaining 15 articles at a discount of 10% each, thereby gaining a total profit of Rs. 630. What was the cost price of each article?
Option 1: Rs. 240
Option 2: Rs. 180
Option 3: Rs. 280
Option 4: Rs. 200
Correct Answer: Rs. 200
Solution :
Given,
Total articles = 30
Marked up by 30%
Profit = Rs. 630
Let the cost price of each article be 100a
Total cost price = 3000a
Now, the Marked price of each article is 100a × 130% = 130a
According to the question,
Selling price of the first 15 articles = 15 × 130a × 0.8 = 1560a
Selling price of another 15 articles = 15 × 130a × 0.9 = 1755a
⇒ Total selling price = 1560a + 1755a = 3315a
Since profit = Selling price - Cost price
⇒ 630 = 3315a - 3000a
⇒ 630 = 315a
⇒ a = 2
So, the cost price of each article = 100a = Rs. 200
Hence, the correct answer is Rs. 200.
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