Multiple Choice Questions on A shop keeper sells an article at a loss of 8 but when he increases the selling price of the article........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A shop keeper sells an article at a loss of 8 but when he increases the selling price of the article...........

Quantitative Aptitude ( CCS) Profit and loss
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    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?

    2%

    Incorrect Answer

    6%

    Incorrect Answer

    10%

    Correct Answer

    12%

    Incorrect Answer
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    Explanation:

    According to the given data,

    Let Cost price of the article be 'cp'

    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%.

    Hence, option 3 is the correct answer.

    By: Amit Kumar
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