Question : The selling price of an article is four times of its cost price. If the selling price is reduced by INR 300, then the profit becomes 250%. What is the cost price of the article?
Option 1: INR 400
Option 2: INR 450
Option 3: INR 800
Option 4: INR 600
Correct Answer: INR 600
Solution :
Let the cost price of the article as C and the selling price as S.
It is given that the selling price is four times the cost price.
⇒ S = 4C
We also know that if the selling price is reduced by INR 300, the profit becomes 250% (Profit = 2.5C).
Since Selling price = Profit + Cost price
S – 300 = 2.5C + C
⇒ S – 300 = 3.5C
We can solve these two equations simultaneously to find the cost price.
⇒ 4C – 300 = 3.5C
⇒ C = $\frac{300}{4 - 3.5}$ = INR 600
Hence, the correct answer is INR 600.
Related Questions
Know More about
Staff Selection Commission Multi Tasking ...
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Get Updates Brochure
Your Staff Selection Commission Multi Tasking Staff Exam brochure has been successfully mailed to your registered email id “”.
Upcoming Exams
Trending Articles around SSC MTS
