A person bought an article and sold it at a loss of 10 percent. If he had bought it for 30 percent less price and sold it for Rs. 90 more, then he would have earned a profit of 35 percent. What is the cost price of the article?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Rs.2000.
Let the cost price be x
Hence, the selling price = 0.9x
New cost price = 0.7x
New selling price = 0.9x + 90
Profit = 0.9x + 90 - 0.7x = 0.2x + 90
According to the question,
× 100 = 35
⇒ 0.2x + 90 = 0.35 × 0.7x
⇒ 0.2x + 90 = 0.245x
⇒ x = 2000