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A man bought an article and sold it at a gain...

This question belongs to Arithmetic Ability Profit And Loss
Profit and Loss
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A man bought an article and sold it at a gain of 10%. If he bought the article at 20% less and sold it for Rs. 1,000 more, he would have made a profit of 40%. The cost price of the article (in Rs.) is:

Answer & Solution
Correct Answer: Option A
Profit and Loss mcq question image
Hence, 8x × $$\frac{7}{5}$$ = 11x + 1000
56x = 55x + 5000
x = 5000
Hence, cost price = 10x
= 10 × 5000
= 50000 Answer
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