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Select the correct answer 13 of the total of an article is sold at a profit of 15%, 14 is at a profit of 20% and the remained part is at a profit of 24%. If the total profit is Rs.6,240 find the cost price of the article?OptionsRs.32000Rs.31200Rs.35000Rs.

Question

Select the correct answer 13 of the total of an article is sold at a profit of 15%, 14 is at a profit of 20% and the remained part is at a profit of 24%. If the total profit is Rs.6,240 find the cost price of the article?OptionsRs.32000Rs.31200Rs.35000Rs.

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Solution

The problem can be solved by setting up an equation based on the information given.

Let's denote the cost price of the article as X.

According to the problem, 1/3 of the article is sold at a profit of 15%, 1/4 is sold at a profit of 20%, and the remaining part is sold at a profit of 24%.

So, the total profit (P) can be calculated as follows:

P = (1/3)X0.15 + (1/4)X0.20 + (1 - 1/3 - 1/4)X0.24

We know that the total profit is Rs.6,240. So, we can set up the following equation:

6240 = (1/3)X0.15 + (1/4)X0.20 + (5/12)X0.24

Solving this equation will give us the cost price of the article.

After simplifying the equation, we get:

6240 = 0.05X + 0.05X + 0.1X

6240 = 0.2X

So, X = 6240 / 0.2 = Rs.31200

Therefore, the cost price of the article is Rs.31200. So, the correct answer is Rs.31200.

This problem has been solved

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