A man sells a mare for Rs. 1085 making a profit 8 $\frac{1}{2}$ %. The cost of the mare is:

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Rs. 982

Rs. 999.50

Rs. 927.75

Rs. 1000

answer is D.

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Detailed Solution

Concept- Before attempting to answer the question, let's define profit. The profit percentage will then be changed from a mixed fraction to an improper fraction. The profit is then calculated using the formula Profit

, where SP is the mare's selling price and

is the mare's cost price. Then, using the equation Profit Per cent

, we can determine the profit percentage. By substituting the value of profit into this formula, we may calculate the mare's cost price.
S.P = Rs. 1085
Profit

C.P.

S.P.

Rs. 1000
Hence, the correct option is 4.

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