The profit earned in selling an article for Rs.2540 is equal to the loss incurred in selling at Rs.1850. What is the cost price?
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A.
Rs.2020
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B.
Rs.2095
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C.
Rs.2195
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D.
Rs.2010
Correct Answer:
C. Rs.2195
Explanation:
To determine the cost price, we use the principle that the profit from the first sale matches the loss from the second sale. Profit is calculated by subtracting the cost price from the selling price (2540 - CP), while loss is calculated by subtracting the selling price from the cost price (CP - 1850). Setting these two expressions equal to each other gives the equation: 2540 - CP = CP - 1850. By rearranging the terms, we find that 2 * CP equals the sum of the two selling prices (2540 + 1850 = 4390). Dividing 4390 by 2 results in a cost price of Rs. 2195.
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