When an article was sold, there was a loss of 10%. If its selling price was increased by 30, there would have been a profit of 10%. Find its cost price. A. 150 B. 130 C. 110 D. 200
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Answer:
₹110.
Step-by-step explanation:
Let the CP be ₹100.
Loss = 10%.
By SP formula,
SP = (1- r/100) × CP
⇢SP = (1- 10/100) × 100
⇢SP = (1- 1/10) × 100
⇢SP = 9/10 × 100
⇢SP = ₹90.
If SP was increased by 30 then SP becomes ₹(90 + 30)
= ₹120.
Now, if there is a profit of 10%, then CP becomes,
By SP formula,
SP = (1+ r/100) × CP
⇢120 = (1+ 10/100) × CP
⇢120 = (1+ 1/10) × CP
⇢120 = 11/10 × CP
⇢CP = 10/11 × 120
⇢CP = ₹110.
Therefore, CP is ₹110. ( Option C).
Used Abbreviations
CP = Cost Price.
SP = Selling Price.
r = Profit%/Loss%.
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