A man sells an article at a certain price and suffers a loss of 20%. If he sells the article at ₹100 more, he gets a profit of 30%. Find the cost price of the article (in ₹).
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 200.
Let CP = x
Loss of 20%, SP = 0.8x
Profit of 30%, SP = 1.3x
According to the question,
⇒ 1.3x - 0.8x = 100
⇒ 0.5x = 100
⇒ x = 200