A loss of 10 1/2% gets converted into a profit of 11 3/5% when the selling price is increased by ₹132.60. The cost price (in ₹) of the article is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 600
Let the cost price be 100x
Selling Price for first case = 100x - 100x × (21/200) = 89.5x
Selling Price for second case = 100x + 100x × (58/500) = 111.6x
According to the question,
⇒ 111.6x - 89.5x = 132.6
⇒ 22.1x = 132.6
⇒ x = 132.6/22.1
⇒ x = 6
So, the cost price = 100 × 6 = 600