Question 3

A man bought article and sold it at a gain of 10% . If he had bought it at 20% less and sold it for Rs.10 more, he would have made an profit of 40%. The cost price of the article is:

Solution

Let the cost price of article = 100x

Then selling price will be 110x

If he had bought it at 20% less and sold it for Rs.10 more, he would have made an profit of 40%,

140% of 80x = 110x + 10

112x = 110x + 10 (or) x = 5

Cost price of the article = 100(5) = 500

Hence, option A is the correct answer.

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