If 5 more is gained by selling an article for Rs 350 then by selling it for Rs 340 the cost of the a...........

Quantitative Aptitude ( CCS) Profit and loss

If 5% more is gained by selling an article for Rs. 350 then by selling it for Rs. 340, the cost of the article (in rupees) is

500

160

200

225

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Explanation:

Let Cost price of the article = Rs X
When SP is Rs 340, then gain %={(340−X)/X}×100
When SP is Rs 350, then gain %={(350−X)/X}×100
Hence Additional % gain {(350−X)/X}− {(340−X)/X}×100
Hence {(350−X)/X}×100− {(340−X)/X}×100 = 5
35000−100− 34000+ 100X) = 5X
or 5X = 1000
or X = Rs 200

Hence, option 3 is the correct answer.