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By selling an article for Rs 1,12,000 a girl gains 40%. The cost price of the article was ______.

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#### Solution

By selling an article for Rs 1,12,000 a girl gains 40%. The cost price of the article was ** ₹ 80000**.

**Explanation:**

Selling price of an article = ₹ 112000

Gain% = 40%

Let x be the cost price of the article.

∴ Cost price = selling price – profit % on cost price

∴ Selling price = cost price + profit % on cost price

So, 112000 = `x + x xx 40/100`

⇒ 112000 = `(100x + 40x)/100`

⇒ 112000 × 100 = 140x

⇒ `x = (112000 xx 100)/140`

⇒ `x = (112000 xx 5)/7`

⇒ `x` = 16000 × 5

⇒ `x` = ₹ 80000

Concept: Concepts of Cost Price, Selling Price, Total Cost Price, and Profit and Loss, Discount, Overhead Expenses and GST

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