A shopkeeper sold an article at 25% profit. On selling it for ₹225 more he would get a profit of 40%. The cost price of the article was:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. ₹1,500
Let cost price be x
Selling Price at 25% profit = 1.25x
Selling Price at 40% profit = 1.40x
1.40x - 1.25x = 225
0.15x = 225
x = = 1500 Rs