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Anu sold an article for Rs 480 at some profit Had...

This question belongs to Arithmetic Ability Profit And Loss
Profit and Loss
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Anu sold an article for Rs. 480 at some profit. Had she sold it for Rs. 400. Then there would have been a loss equal to one-third of the initial profit. What was the cost price of the article?

Answer & Solution
Correct Answer: Option C
Loss = $$\frac{1}{3}$$ Profit
$$\frac{{{\text{Loss}}}}{{{\text{Profit}}}} = \frac{1}{3}$$
Cost price = 480 - 3x = 400 + x
4x = 80
x = 20
Cost price = 400 + 20 = 420
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