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Select the correct answerWhen an article is sold for Rs.355, there is a loss of 29%. To gain 21%, it should be sold for Rs?Options635580.8605629.2

Question

Select the correct answerWhen an article is sold for Rs.355, there is a loss of 29%. To gain 21%, it should be sold for Rs?Options635580.8605629.2

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Solution

To solve this problem, we first need to find the cost price of the article.

Given that when the article is sold for Rs. 355, there is a loss of 29%. This means that Rs. 355 is 71% of the cost price (because 100% - 29% = 71%).

So, we can set up the equation:

355 = 0.71 * Cost Price

To find the cost price, we divide both sides of the equation by 0.71:

Cost Price = 355 / 0.71 = Rs. 500

Now, to find the selling price for a gain of 21%, we calculate 21% of the cost price and add it to the cost price:

Selling Price = Cost Price + 21% of Cost Price Selling Price = 500 + 0.21 * 500 = Rs. 605

So, the article should be sold for Rs. 605 to gain a profit of 21%. Therefore, none of the options provided are correct.

This problem has been solved

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