Question : If an article is sold at a 6% profit instead of a 6% loss, the seller gets INR 60.72 more. Find the Cost price of the article.
Option 1: INR 506
Option 2: INR 606
Option 3: INR 572
Option 4: INR 672
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Correct Answer: INR 506
Solution : Let the cost price of the article be 100$x$. If it is sold for 6% profit, then the selling price = 106$x$ If it is sold for 6% loss, then the selling price = 94$x$ The difference in the selling price = 106$x$ – 94$x$ = 12$x$ Given, the difference in price = 60.72 According to the question: ⇒ 12$x$ = 60.72 ⇒ $x$ = $\frac{60.72}{12}$ ⇒ The cost price of the article = 100$x$ = 100 × $\frac{60.72}{12}$ = INR 506 Hence, the correct answer is INR 506.
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