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A man buys an article and sells it at a profit of 20%. If he had bought it at 20% less and sold it for Rs.75 less, he could have gained 25%. What is the cost price?

Correct answer: B. Rs.375

  • A. Rs.370
  • B. Rs.375
  • C. Rs.350
  • D. Rs.300

Explanation

Let the original cost price be Rs.x, so the original selling price is Rs.1.2x. Under the changed conditions, the cost is Rs.0.8x and the selling price is Rs.1.2x - Rs.75; a 25% gain requires this to equal Rs.0.8x x 1.25 = Rs.x. Thus Rs.1.2x - Rs.75 = Rs.x, so Rs.0.2x = Rs.75 and x = Rs.375. Students often choose Rs.350 by applying the 20% reduction to the selling price rather than to the cost price.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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