Question : Suman incurred a loss of 35% on selling an article for Rs. 41275. What was the cost price of the article?
Option 1: Rs. 48675
Option 2: Rs. 63500
Option 3: Rs. 54020
Option 4: Rs. 45910
Correct Answer: Rs. 63500
Solution :
Given: The selling price = Rs. 41275 and loss percentage = 35%
We know,
Cost price = Selling price × $\frac{100}{100-\text{loss percentage}}$
= 41275 × $\frac{100}{100-35}$
= 41275 × $\frac{100}{65}$
= Rs. 63500
Hence, the correct answer is Rs. 63500.
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