Question : The percentage profit made when an article is sold for Rs. 78 is twice as much as when it is sold for Rs. 69. The cost of the article is:
Option 1: Rs. 60
Option 2: Rs. 51
Option 3: Rs. 55.50
Option 4: Rs. 70
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Correct Answer: Rs. 60
Solution :
Let the cost price of the article be Rs. x.
The profit from selling it at Rs. 78 = twice the profit at Rs. 68.
So, 78 – x = 2(69 – x)
⇒ 78 – x = 138 – 2x
$\therefore$ x = 60
Hence, the correct answer is Rs. 60.
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