A trader marks the price of an article 50% above the cost price. He gives 12% discount to the buyers and
earns a profit of Rs. 16 on the article. Find the cost price of the article.
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Answer:
₹9.92
Explanation:
Let the cost price of an article be x
Then price marked by the trader = x+50%
Discount he gave to buyers = x+50%-12% = x+ 38%
That means x+38%= 16
x= 16 of 38%
= 16×38/100 = 6.08 profit
Then cost price = 16-6.08 = ₹9.92
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