A merchant fixed the selling price of his articles at $ 700 after adding 40% profit to the cost price. As the sale was very low at this price level, he decided to fix the selling price at 10% profit. Find the new selling price.

A merchant fixed the selling price of his articles at $ 700 after addi

1.	A merchant fixed the selling price of his articles at $ 700 after adding 40% profit to the cost price. As the sale was very low at this price level, he decided to fix the selling price at 10% profit. Find the new selling price.
A.	$ 500
B.	$ 550
C.	$ 450
D.	$ 490
Answer» C. $ 450

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A merchant fixed the selling price of his articles at $ 700 after adding 40% profit to the cost price. As the sale was very low at this price level, he decided to fix the selling price at 10% profit. Find the new selling price.

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