A person bought an article and sold it at a loss of 10%.

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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. 55 more. he would have had a profit of 40%. The C.P. of the article is ?

1. Rs. 200
2. Rs. 225
3. Rs. 250
4. None of these

Correct Option: C

Let C.P. = Rs. P
Then S.P. = Rs. (90/100) x P = Rs. (9 x P)/10
New C.P. = Rs. (80/100) x P = Rs. (4 x P)/5
Now, Gain = 40%
∴ New S.P. Rs. (140/100 x 4P/5) = Rs. 28P/25
∵ 28P/25 - 9P/10 = Rs. 250