Question : The profit (in Rs.) after selling an article for Rs. 524 is the same as the loss (in Rs.) after selling it for Rs. 452. The cost price of the article is:
Option 1: Rs. 480
Option 2: Rs. 485
Option 3: Rs. 488
Option 4: Rs. 500
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Correct Answer: Rs. 488
Solution :
Let the cost price be Rs. x.
Profit = Selling price – Cost price = 524 – x
Loss = Cost price – Selling price = x – 452
According to the question,
524 – x = x – 452
⇒ 2x = 976
$\therefore$ x = 488
Hence, the correct answer is Rs. 488.
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