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A shopkeeper buys an article for Rs 2 and sells it at a profit of 10 percent of the selling price What is the selling price of the article?
  1. 30
  2. 35
  3. 29.50
  4. 2.22
Explanation

- Profit = 10% of selling price = 0.10x

- Cost Price = Rs 2

Now use the relation:  

Cost Price = Selling Price – Profit  

⇒ 2 = x – 0.10x  

⇒ 2 = 0.90x  

⇒ x = 2 / 0.90 = 2.22



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