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If 5% more is gained by selling an article for Rs.350 than by selling the article for Rs.340, then what is the cost of the article?
Question

If 5% more is gained by selling an article for Rs.350 than by selling the article for Rs.340, then what is the cost of the article?

A.

Rs.100

B.

Rs.250

C.

Rs.160

D.

Rs.200

Correct option is D

Given:

Selling price when 5% more profit is gained = Rs.350

Selling price with original gain = Rs.340

Formula Used:

Profit=Selling PriceCost PriceCost Price×100\text{Profit} = \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \times 100​​

Solution:

Let the cost price of the article be Rs.C.

The profit percentage = G%

Profit from selling the article for Rs.350:

350CC×100=(G+5).........equation(1) .340CC×100=G.........equation(2) 350CC×100340CC×100=5 10C×100=5 C=10×1005=200\frac{350 - C}{C} \times 100 = (G + 5) ......... equation (1)\\\ \\ .\frac{340 - C}{C} \times 100 = G ......... equation (2)\\\ \\\frac{350 - C}{C} \times 100 - \frac{340 - C}{C} \times 100 = 5\\\ \\\frac{10}{C} \times 100 = 5\\\ \\C = \frac{10 \times 100}{5} = 200​​

Thus, the cost price of the article is Rs.200.  

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