If the difference between the selling prices of an article at profits of 10% and 7% is ₹6, then the cost price (in ₹) of the article is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 200.
Selling price = cost price + profit
Let the cost price be 100x
Profit (10%) = 10% of 100x = 10x
Profit (7%) = 7% of 100x = 7x
According to the question;
⇒ 10x - 7x = 6
⇒ 3x = 6
⇒ x = 2
Hence, the cost price of the article = 100x
⇒ 100 × 2 = 200