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A shop keeper sells an article at a loss of 8%, but when he increases the selling price of the article by Rs. 164 he earns a profit of 2.25% on the cost price. If he sells the same article at Rs. 1760, what is his profit percentage?

Correct Answer: 10%

Explanation:

According to the given data,


Let Cost price of the article be 'cp'


Then,


102.25 cp - 92 cp = 164 x 100


10.25 cp = 16400


cp = 1600


Now, if he sells at Rs. 1760


Profit = 1760 - 1600 = 160


 


Profit% = 160/1600 x 100 = 10%.


 


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