If a man reduces the selling price of a fan from Rs.400 to Rs.380, his loss increases by 2%. The cost price of the fan is

If a man reduces the selling price of a fan from Rs.400 to Rs.380, his loss increases by 2%. The cost price of the fan is

  1. Rs. 480
  2. Rs. 500
  3. Rs. 600
  4. Rs. 1000

Answer:  4

Solution:

Let C.P be Rs.x

Then,

2% of x=(400 – 380)=20
x/50 = 20 x
x=  =1000.

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