An article is marked at ₹550. If it is sold at a discount of 40%, then the…
2024
An article is marked at ₹550. If it is sold at a discount of 40%, then the selling price becomes 10% more than its cost price. What is the cost price (in ₹)?
- A.
220
- B.
330
- C.
300
- D.
200
Attempted by 12 students.
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Correct answer: C
Identify the Marked Price:
The marked price of the article is ₹550.
Calculate the Selling Price:
The article is sold at a discount of 40%.
Discount amount = 40% of 550 = 0.40 * 550 = ₹220.
Selling Price (SP) = Marked Price - Discount = 550 - 220 = ₹330.
Calculate the Cost Price:
The selling price (₹330) is 10% more than the cost price (CP). This means:
SP = CP + 10% of CP = 1.10 * CP.
Therefore: 330 = 1.10 * CP.
CP = 330 / 1.10 = ₹300.