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Question
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
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