Question : If a man reduces the Selling Price of a fan from Rs. 1,250 to Rs. 1,000, his loss increases by 10%. The Cost Price of the fan is:
Option 1: Rs. 2,400
Option 2: Rs. 2,450
Option 3: Rs. 2,500
Option 4: Rs. 2,350
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Correct Answer: Rs. 2,500
Solution :
Given: If a man reduces the Selling Price of a fan from Rs. 1,250 to Rs. 1,000, his loss increases by 10%.
Let the Cost Price of the fan be Rs. $x$
According to the question,
10% of $x$ = 1250 – 1000
⇒ $\frac{10x}{100}=250$
⇒ $x=\frac{250×100}{10}$
⇒ $x=2500$
Hence, the correct answer is Rs. 2,500.
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