A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for rs55 more, he would have had a profit of 40%. The C.P. of the article is:
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Let the cost price be Rs.x
S.P. = 90% of x = 90100x=9x1090100x=9x10
New C.P. = 80% of x = Rs.Rs.4x5Rs.4x5
New gain 40%
New S.P. = 140% of 4x5=Rs.2825x4x5=Rs.2825x
2825x−9x10=552825x−9x10=55
280x−225x=55×250280x−225x=55×250
55x=55×25055x=55×250
Therefore, x = 250
Cost price. of the article = Rs.250
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