A man bought an article and sold it at a gain of 10%. If he had bought the article at 20% less and sold it for 1000 Rs. more, he would have made a profit of 40%. The cost price of the article is?
Answer & explanation
Correct answer: option 1
CP : SP
Earlier: 100 : 110
Now: 80 : 112 (40% of 80 = 32)
ATQ,
110 R - 112 R = 1000
2 R = 1000
1R = 500
C.P. = 100R = 100 × 500 = 50000/-