A merchant sells an article at 5% profit. If he had bought it at 5% less...

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A merchant sells an article at 5% profit. If he had bought it at 5% less and sold it for Rs. 1 less, he would have gained 10%. The cost price of the article is: 1. Rs. 200 Rs. 150 3. Rs. 240 4. Rs. 280 None of these 2. 5. A merchant sells an article at 5% profit. If he had bought it at 5% less and sold it for Rs. 1 less, he would have gained 10%. The cost price of the article is: 1. Rs. 200 Rs. 150 3. Rs. 240 4. Rs. 280 None of these 2. 5.

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Solution 1 Assume that the merchant bought the article for Rs x Given that he sells the artic... View the full answer