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Select the correct answerA trader sold an article at profit of 20%. Had he bought that article at 60% less price and sold it at Rs 90 less, then he would have gained 50%. What is the value (in Rs) of cost price?Options150250300200

Question

Select the correct answerA trader sold an article at profit of 20%. Had he bought that article at 60% less price and sold it at Rs 90 less, then he would have gained 50%. What is the value (in Rs) of cost price?Options150250300200

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Solution

Let's solve this step by step:

  1. Let's assume the cost price of the article is x.

  2. According to the problem, the trader sold the article at a profit of 20%. So, the selling price of the article is 120% of x, which is 1.2x.

  3. The problem also states that if the trader had bought the article at 60% less price, the cost price would have been 40% of x, which is 0.4x.

  4. If he sold it at Rs 90 less, the selling price would have been 1.2x - 90.

  5. But this selling price is said to be a 50% gain over the reduced cost price. So, 1.2x - 90 = 150% of 0.4x, which is 1.5 * 0.4x.

  6. Solving this equation gives us the value of x, which is the original cost price of the article.

Let's solve the equation:

1.2x - 90 = 1.5 * 0.4x 1.2x - 90 = 0.6x 1.2x - 0.6x = 90 0.6x = 90 x = 90 / 0.6 x = 150

So, the cost price of the article is Rs 150. Therefore, the correct option is 150.

This problem has been solved

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