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Question
A salesman sold an article at a loss of 10%. If the selling price has been increased by Rs. 80, there would have been a gain of 10%. What was the cost of the article?
Solution
Let ₹ x be the cost price of the article.
S.P. of the article = `"x" - 10/100 "x" = (9"x")/10` ...(i)
Given that, S.P. increased by ₹ 80 would have given a 10% gain
i.e. S.P. + 80 = `"x" + 10/100"x"`
∴ `(9"x")/10 + 80 = (11"x")/10` ......[From (i)]
∴ `((11 - 9)"x")/10 = 80`
∴ x = `(80 xx 10)/2 = 40 xx 10 = 400`
∴ The cost price of the article is ₹ 400.
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