A merchant sold his goods for Rs. 75 at a profit percent equal to C.P. The C.P was:________?
Correct answer: B. Rs. 50
- A. Rs. 40
- B. Rs. 50
- C. Rs. 60
- D. Rs. 70
Explanation
Let the cost price be x rupees. Since the profit percentage has the same numerical value as the C.P., profit = x²/100 rupees, and the selling price is x + x²/100 = Rs. 75. Testing x = Rs. 50 gives profit Rs. 25 and selling price Rs. 75, so Rs. 50 fits; Rs. 60 is a likely choice from confusing the selling price with the profit.
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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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