Multiple choice

Profit earned by selling an article at $Rs. 1630$ is same as the loss incurred by selling the article for $Rs.1320$. Find the cost price.

  1. $Rs.1475$
  2. $Rs.1300$
  3. $Rs.1350$
  4. $Rs.1275$
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A Correct answer
Explanation

Let the cost price be CP. Profit = 1630 - CP and Loss = CP - 1320. Since profit equals loss, 1630 - CP = CP - 1320. Solving this gives 2 * CP = 2950, so CP = 1475.

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