A man sells an article at a 10% profit. If he had bought it at 20% less and sold it for Rs. 20 more, his profit would have been 40%. Find the initial cost price. MCQ with Answer and Explanation

Let initial Cost Price = 100x. Initial Selling Price = 110x. New Cost Price = 80x. New Selling Price = 80x * 1.40 = 112x. Difference = 112x - 110x = 2x. 2x = 20. x = 10. Initial Cost Price = 100 * 10 = 1000.