Cynthia Gregory

answers: 1

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Answer:

Answer:

Quantitative Aptitude ≫ Profit and Loss ≫ Discount and MP

Question:

An article was sold for ₹ 4,000. Had a discount of 10% was being offered, the profit would have been 20%. The cost price of the article was:

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Options:

₹ 3,200

₹ 3,310

₹ 3,000

₹ 3,600

Correct Answer: Option 3 (Solution Below)

Solution:

Given:

Selling Price = Rs. 4000

Profit percentage = 20%

Discount percentage = 10%

Formula used:

Profit percentage = {(SP - CP)/CP} × 100

where,

CP = Cost price

SP = Selling price

Calculation:

Let the CP be 100x.

If the discount of 10% was given on selling price, then new SP = 4000 - 4000 × 10%

⇒ 4000 - 400

⇒ 3600

Profit percentage = {(SP - CP)/CP} × 100

⇒ 20 = {(3600 - 100x)/100x} × 100

⇒ 20x = {3600 - 100x}

⇒ 120x = 3600

⇒ x = 30

CP will be 100 × 30 = Rs. 3000

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