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The following line graph shows the number of fruits (apples and bananas) sold in five different years: 2015: Apple 330, Banana 460 2016: Apple 540, Banana 470 2017: Apple 590, Banana 530 2018: Apple 550, Banana 660 2019: Apple 700, Banana 620 The marked price of an article is 150% more than the cost price. The discount given on the marked price is 30%. If the difference between the selling price and the cost price is ₹525, find the cost price of the article.
- ₹500
- ₹550
- ₹650
- ₹700
Correct answer: ₹700
Solution
If the marked price is 150% more than cost price, then MP = 250% of CP = 2.5CP. After a 30% discount, SP = 70% of MP = 1.75CP. Given SP - CP = 525, we get 0.75CP = 525, so CP = 700.
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