Question : By selling an article for INR 600, a person made a profit of 50%. What was the cost price of this article?
Option 1: INR 300
Option 2: INR 450
Option 3: INR 400
Option 4: INR 350
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Correct Answer: INR 400
Solution : Given: By selling an article for INR 600, a person made a profit of 50%. We know, Profit percentage = $\frac{\text{Selling Price - Cost Price}}{\text{Cost Price}}\times 100$ Let the cost price of the article be $x$. ⇒ $\frac{600−x}{x}×100=50$ ⇒ $60000−100x=50x$ ⇒ $x=\frac{60000}{150}$ ⇒ $x=400$ Hence, the correct answer is INR 400.
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