A man sells an article at a profit of 40%. If he had bought it at 40% less and sold for Rs. 100 less, he would have gained 50%. Find the cost price of the article?
Answer & explanation
Correct answer: option 1
Suppose CP = 100
than case1 → sp= 40% profit = 140
case 2 → Now CP = 40% less = 60
than SP= 150% of 60= 90
difference of SP= 140–90= 50
when difference rs 50 than CP= 100
CP= 100×2= 200