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Labeled price of cotton yarn is Rs. 3,500, cloth merchant allows a discount of 10%. Calculate the cost price of cotton yarn if the whole transaction was at Rs. 250 profit on selling price.1. Rs. 3,4502. Rs. 3,2503. Rs. 2,9004. Rs. 3,150 |
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Answer» Correct Answer - Option 3 : Rs. 2,900 Given: Discount on labeled price = 10% Labeled price of yarn = Rs. 3500 Profit on selling price = Rs. 250 Formula used: Discount = Labeled price × (100 – Discount%)/100 Selling price = Labeled price – Discount Selling price = Cost price + Profit Calculations: Calculating discount amount first ⇒ Discount = (10 ÷ 100) × Rs. 3,500 ⇒ Discount = Rs. 350 ⇒ Selling price = Rs. 3,500 – Rs. 350 ⇒ S.P. = Rs. 3,150 ⇒ C.P. = Rs. 3,150 – Rs. 250 ⇒ C.P. = Rs. 2,900 ∴ Cost price of the yarn is Rs. 2,900 |
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