Question 63

If 7% of the sale price of an article is equivalent to 8% of its cost price and 9% of its sale price exceeds 10%of its cost price by Re. 1, then what is the costprice of the article?

Solution

Let cost price of article = Rs. $$100x$$

Let marked price be Rs. $$100y$$

It is given that 7% of MP = 8% of CP

=> $$7y=8x$$ -------------(i)

Also, $$9y-10x=1$$ -----------(ii)

Solving equations (i) and (ii), we get : $$y=4$$ and $$x=3.5$$

$$\therefore$$ Cost price of article = $$100\times3.5=Rs.$$ $$350$$

=> Ans - (B)

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