Question

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 cost price of the article?

• A. Rs. 400
• B. Rs.350
• C. 300
• D. 280

Answer 1

Answer: (B)

Rs.350

Answer 2

The correct option is (B): Rs.350
Explanation: Let us cost price of article =$Rs \space100x$
Rs. Let marked price be Rs. = $Rs \space100y$
Given that $7\%$ of MP$= 8\%$ of CP
⇒ $7x=8y$
⇒$9y-10x=1$ (from question)
from these two equations we get $y=4$ and $x=3.5$
So, cost of Article= $3.5\times100=350$