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A merchant fixed the selling price of hi...

A merchant fixed the selling price of his articles at Rs 700 after adding 40% profit to the cost price. As the sale was very low at this price level, he decided to fix the selling price at 10% profit. Find the new selling price

A

1. 500

B

2. 550

C

3. 450

D

4. 490

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The correct Answer is:
B
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