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A merchant fixed the selling price of his articles at $ 700 after adding 40% profit to the cost price. As the sale was very low at this price level, he decided to fix the selling price at 10% profit. Find the new selling price.
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- $ 500
- $ 550
- $ 450
- $ 490
Correct Option: B
Here , Selling price of articles = $ 700
On 40% profit ,
| C.P. of the article = | = $ 500 | 140 |
| ∴ New selling price at 10% profit = | = $ 550 | 100 |
