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The selling price of an article is Rs. 118 and the profit earned is 50%. The cost price of the article is?
  1. 77.00
  2. 80.00
  3. 78.66
  4. 68.79
Explanation

To solve this problem, you need to use the concept of profit percentage and the formula:

Profit = Selling Price - Cost Price

Given:

Selling Price = Rs. 118

Profit = 50% of Cost Price

Let's calculate the Cost Price:

Profit = (50/100) x Cost Price

Profit = Rs. 118 - Cost Price

Substitute the profit value:

(50/100) x Cost Price = Rs. 118 - Cost Price

Simplify and solve for Cost Price:

Cost Price = Rs. 78.66

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