A shopkeeper sold an article for Rs 540 at some profit .Had he sold it for Rs 470, then there would have a loss equal to one-sixth of the initial profit.what was the cost price (in Rs) of the article?
- 150
- 500
- 340
- None
Explanation
With a reduction of 540 - 470 = Rs. 70, the profit changes from x to (-x/6) i. e. a difference of 7x/6.
7x/6 = 70 or x= 60
Hence Cost price = 540 - 60 = 480
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