Assume the weight of the meterstick is located at its center of mass: 50 cm. The torque balance for equilibrium requires that :
W(stick)d(stick) = Wd(weight) where d's (lever arms) are distances to fulcrum. In a sense the meterstick COM is |40-50| away from the fulcrum and the weight is |40 -10| away from the fulcrum.
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