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Profit and Loss
A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs. 75 less, he could have gained 25%. What is the cost price?
Explanation and memory cue
Let the original cost price be Rs. x. The selling price at 10% loss is 0.9x. If the cost price was 20% less, it would be 0.8x, and selling at Rs. 75 less means selling price is 0.9x - 75. This new selling price is 25% gain on 0.8x, so 0.9x - 75 = 1.25 * 0.8x = 1.0x. Solving 0.9x - 75 = x gives x = Rs. 250.