A trader sold a n article for ,Rs.11000/- after reducing Rs.1000/. From tag price.and thoght that his profit would be 10,%but actually he got a loss of 8 1/3 % . What is the cost price of the article ?
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Answer:
Correct option is
B
Rs. 400
Let the cost price =Rs.x
Loss =20%
Loss =
100
20
×x =
5
x
Now, SP=CP−Loss=x−
5
x
=
5
4x
If SP was Rs 100 more,
New SP=
5
4x
+100
Profit =5% of CP =
100
5
×x=NewSP−CP
Profit =
20
x
=
5
4x
+100−x
20
20x−16x+x
=100
5x=2000
x=Rs.400
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