Question : If the cost price is Rs. 150 less than the selling price and the profit is 20%, then what is the selling price (in Rs.)?
Option 1: Rs. 750
Option 2: Rs. 800
Option 3: Rs. 850
Option 4: Rs. 900
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Correct Answer: Rs. 900
Solution : Let the selling price be $x$. ⇒ Cost Price = $x$ – 150 Profit = 20% Profit % = $[\frac{\text{Selling price - Cost price}}{\text{Cost price}} ] \times100$ ⇒ 0.2 = $[\frac{x - x +150}{x - 150}]$ ⇒ 0.2$x$ – 30 = 150 ⇒ 0.2$x$ = 180 $\therefore x$ = Rs. 900 Hence, the correct answer is Rs. 900.
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