Remi earns a profit of 20% on selling an article at a certain price, If she sells the articles for Rs 8 more, she will gain 30%. What is the original cost price of 16 such articles?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Rs 1,280
Concept
Statement Based
Application
Let the CP of the article = 100x
Original Selling Price = 120x
New Selling Price = 130x
According to question
130x -120x = 8
10x = 8
x = 8/10
Original C.P of 1 article = 0.8 x 100 = Rs. 80
C.P of 16 Articles = 80 x 16 = Rs.1,280