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The profit earned after selling an article for Rs. 625 is 50% more than the loss incurred after selling the article for Rs. 500. What is the cost price of the article?


1. 525
2. 550
3. 575
4. 600

1 Answer

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Best answer
Correct Answer - Option 2 : 550

Given:

Profit earned after selling the article for Rs. 625 is 50% more than the loss incurred after selling the article for Rs. 500.

Concept Used:

Profit = Selling price – Cost price

⇒ Cost price = Selling price - profit

Calculation:

Profit is 50% more than the loss

Let loss be 100%

Then profit = (100 + 50) = 150%

The ratio of profit on selling Rs. 625 and loss incurred on selling Rs. 500 = 150 : 100

⇒ 3 : 2

Difference between two selling price is (625 – 500)

⇒ 125

Profit = (3/5) × 125

⇒ 75

Cost price = 625 – 75

⇒ Cost Price = 550

The cost price of the article is Rs. 550

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