Question : An article was sold at a loss of 14%. If it was sold for Rs. 756 more, then there would have been a gain of 7%. Find the cost price of the article.
Option 1: Rs. 3600
Option 2: Rs. 2300
Option 3: Rs. 5000
Option 4: Rs. 3000
Correct Answer: Rs. 3600
Solution :
Let the cost price of the article be $x$.
It was sold at a loss of 14%.
So, selling price $=\frac{100-14}{100}×x=\frac{43x}{50}$
According to the question,
$\frac{43x}{50}+756=\frac{100+7}{100}×x$
$⇒\frac{107x-86x}{100}=756$
$⇒21x=75600$
$\therefore x=3600$
Hence, the correct answer is Rs. 3600.
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