A person bought an article and sold it at a loss of 15%. If he would have sold it for ₹50 more, he could have gained 10%. What was the original cost price of the article?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e ₹ 200
Explanation :
Let the original cost price of the article be 100x.
Now, the selling price at 15% loss = 85x
Also, the selling price at 10% gain = 110x.
According to the given question,
the selling price at 10% gain - the selling price at 15% loss = 50
⇒ 110x - 85x = 50
⇒ 25x = 50
⇒ x = 2
So, the cost price of the article = 100x = 2 × 100 = 200
Hence the cost price of the article is ₹ 200.