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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

Rs 450

B

Rs 490

C

Rs 500

D

Rs 550

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The correct Answer is:
D
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