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On selling an article for Rs. 240, a trader loses 4%. In order to gain 10 % he must sell that article for

Rs. 275
Rs. 340
Rs. 320
Rs. 264

Correct Answer: Rs. 275

Explanation:

Let the CP be Rs. x , then SP be 0.96x
∴ 0.96x = 240
⇒ x = 250
Now the new SP = 250 X 1.1 = 275

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