A man sells an article at a profit of 40%. If he had bought it at 40% less and sold for ₹ 5 less, he would have gained 50% . Find the cost price of the article .

₹ 10
₹ 15
₹ 20
₹ 30

Correct Answer: ₹ 10

Explanation:

Let CP = ₹ 100, then SP = 140
New CP = ₹ 60 and new SP = (60 x 150)/100 ₹ 90
According to the question,
₹(140 - 90) = ₹ 50 is equivalent to ₹ 5.
∴ ₹ 100 is equivalent to ₹ 10.
∴ CP = ₹ 10

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