A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs. 55 more, he would have had a profit of 40%. The cost price of the article is: MCQ with Answer and Explanation
A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs. 55 more, he would have had a profit of 40%. The cost price of the article is:
A. Rs. 250
B. Rs. 225
C. Rs. 275
D. Rs. 200
Answer: Option A
Solution (By JKSSB Mock Tests)
Let original CP = 100x. SP = 90x. New CP = 80x. New SP = 90x + 55. Profit is 40% of 80x = 32x. New SP = 80x + 32x = 112x. 112x - 90x = 55. 22x = 55. x = 2.5. CP = 100 * 2.5 = Rs. 250.
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