Paper 1 · Mathematical Reasoning and Aptitude
UGC NET June 2024 Re-Exam (30.08.2024) Shift-II
A person sold an item at a profit of 6.5%. If he had sold it for Rs.1250 more, he would have made a profit of 19%. What is the cost price of the item? (Note: this question was rejected by the commission.)
ARs.10,000 ✓ Correct
BRs.10,500
CRs.9,000
DRs.9,500
Correct answer: (A) Rs.10,000 — The cost price works out to Rs.10,000, though the item was later rejected.
Explanation
★The cost price works out to Rs.10,000, though the item was later rejected.
★Selling at 6.5 percent profit gives a price of 1.065 times the cost.
★Selling at 19 percent profit gives 1.19 times the cost.
★The difference of these prices equals Rs.1250.
★So 0.125 times the cost equals 1250, giving a cost of 10,000.
★The commission rejected this item, but the computed key is Rs.10,000.
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