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Question : The profit obtained by selling an article for Rs. 625 is the same as the loss incurred if it is sold for Rs. 545. The price at which it is to be sold to realize a profit of Rs. 65 on the cost price is:

Option 1: Rs. 640

Option 2: Rs. 630

Option 3: Rs. 650

Option 4: Rs. 660


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Rs. 650


Solution : Let the cost price of the article as $x$.
Given that the profit obtained by selling an article for Rs. 625 is the same as the loss incurred if it is sold for Rs. 545.
Using, Selling price = Cost price + Profit = Cost price – Loss
⇒ $625 – x = x – 545$
⇒ $x = \frac{625 + 545}{2} = 585$
The price at which it is to be sold to realize a profit of Rs. 65 on the cost price = $x + 65 = 585 + 65 = 650$
Hence, the correct answer is Rs. 650.

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