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An article was sold at a loss of 18%. If...

An article was sold at a loss of 18%. If it was sold for Rs 2,475 more, then there would have been a profit of 12%. The cost price of the article is:

A

Rs 8,250

B

Rs 8,500

C

Rs 8,000

D

Rs 8,200

Text Solution

AI Generated Solution

The correct Answer is:
To find the cost price of the article, we can set up the problem using the information given in the question. 1. **Let the cost price (CP) of the article be Rs. x.** - The article was sold at a loss of 18%. Therefore, the selling price (SP) at a loss of 18% can be calculated as: \[ SP = CP - (18\% \text{ of } CP) = x - 0.18x = 0.82x \] 2. **If the article was sold for Rs. 2,475 more, there would have been a profit of 12%.** - The selling price at a profit of 12% can be calculated as: \[ SP = CP + (12\% \text{ of } CP) = x + 0.12x = 1.12x \] 3. **According to the problem, the difference between the two selling prices is Rs. 2,475.** - Therefore, we can set up the equation: \[ 1.12x - 0.82x = 2475 \] 4. **Simplifying the equation:** - Combine like terms: \[ (1.12 - 0.82)x = 2475 \] \[ 0.30x = 2475 \] 5. **Now, solve for x (the cost price):** - Divide both sides by 0.30: \[ x = \frac{2475}{0.30} \] \[ x = 8250 \] 6. **Thus, the cost price of the article is Rs. 8,250.** ### Final Answer: The cost price of the article is Rs. 8,250.
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