Select the correct answerA person sells a book for Rs.11. He gains as many percent as its cost price in rupees. What is the cost price?Options10304020
Question
Select the correct answerA person sells a book for Rs.11. He gains as many percent as its cost price in rupees. What is the cost price?Options10304020
Solution
The problem states that the person's profit percentage is equal to the cost price of the book.
Let's denote the cost price as 'x'.
So, according to the problem, the selling price of the book is the cost price plus the profit, which is also 'x'.
Therefore, the selling price is x + x = 2x.
Given that the selling price is Rs.11, we can set up the equation 2x = 11.
Solving for 'x', we get x = 11/2 = 5.5.
However, the options given are 10, 30, 40, and 20. Since 5.5 is not an option, it seems there might be a mistake in the problem or the options provided.
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