Question

A loss of 26% gets converted into a profit of 24% when the selling price of a sanitizer bottle is increased by Rs. 185. The cost price of the article is:
1. Rs. 370
2. Rs. 365
3. Rs. 350
4. Rs. 345

Answer 1

Correct Answer - Option 1 : Rs. 370

Let the cost price of the article be X.
In the case of 26% loss, the selling price of the article would have been 0.74X.
In the case of 24% profit, the selling price of the article would have been 1.24 X.
Now,
1.24X - 0.74X = Rs. 185
0.5X = Rs.185
X = Rs. 370

Hence, the cost price of the article is Rs. 370.