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Karan sold goods to Arjun at a loss of 7%. But Arjun sells it for Rs. 1813.5 and he gain 50%. What is the cost price of good for Karan?
1. Rs. 1200
2. Rs. 1300
3. Rs. 1600
4. Rs. 1500

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Correct Answer - Option 2 : Rs. 1300

Given

Loss = 7%

Selling price = Rs. 1813.5

Concept

Profit = Selling price - Cost price

And loss = Cost price - Selling price

Calculation

Let the cost price of good for Arjun is Rs.x

Profit = Selling price - Cost price

⇒ 50x/100 = 1813.5 - x

⇒ -1813.5 = -x - 50x/100

⇒ -1813.5 = -150x/100

⇒ x = 1209

Selling price of good for Karan is Rs.1209

Cost price of good for Karan is Rs.y

Loss = Cost Price - Selling price

⇒ 7% of y = y - 1209

⇒ 93y/100 = 1209

⇒ y = 1300

 Cost price of goods for Karan is Rs. 1300

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