Question:
If 7\(\%\) of the sale price of an article is equivalent to 8% of its cost price and 9\(\%\) of its sale price exceeds 10\(\%\) of its cost price by Re. 1, then what is the cost price of the article?
If 7\(\%\) of the sale price of an article is equivalent to 8% of its cost price and 9\(\%\) of its sale price exceeds 10\(\%\) of its cost price by Re. 1, then what is the cost price of the article?
Updated On: Oct 1, 2024
- Rs. 400
- Rs.350
- 300
- 280
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The Correct Option is B
Solution and Explanation
The correct option is (B): Rs.350
Explanation: Let us cost price of article =\(Rs \space100x\)
Rs. Let marked price be Rs. = \(Rs \space100y\)
Given that \(7\%\) of MP\(= 8\%\) of CP
⇒ \(7x=8y\)
⇒\(9y-10x=1\) (from question)
from these two equations we get \(y=4 \) and \(x=3.5\)
So, cost of Article= \(3.5\times100=350\)
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