Q:
      
      
         
            
A shop keeper sells an article at a loss of 8%, but when he increases the selling price of the article by Rs. 164 he earns a profit of 2.25% on the cost price. If he sells the same article at Rs. 1760, what is his profit percentage?
         
       
      
      
      
          
      
      
          Answer & Explanation
         Answer: C) 10%         
         
Explanation: According to the given data,
Let Cost price of the article be 'cp'
Then,
102.25 cp - 92 cp = 164 x 100
10.25 cp = 16400
cp = 1600
Now, if he sells at Rs. 1760
Profit = 1760 - 1600 = 160
 
Profit% = 160/1600 x 100 = 10%.
 
       
      
      
      
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