Joy sells an article for Rs.56 which cost him $x. If he gains x% on his outlay, what was his cost?
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Let x be the cost price of the article and x% is the profit margin.
Therefore, S.P =x(
1+
100
x
)=56
⇒100x+x
2
=5600
Solving for "x", we get x=40 or x=−140.
As the price cannot be a negative quantity, x=40.
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