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A person bought an article and sold it at a loss of 10 % if he had bought it for 20 % less and sold it for Rs. 55 more he would have had a profit of 40 %. The C.P of the article is:

Correct answer: C. Rs. 250

  • A. Rs. 200
  • B. Rs. 225
  • C. Rs. 250
  • D. None of these

Explanation

Let the original cost price be Rs. x, so the original selling price is Rs. 0.90x. In the alternative case, the cost is Rs. 0.80x and the selling price is Rs. 0.90x + Rs. 55, which equals 140% of Rs. 0.80x, or Rs. 1.12x; therefore Rs. 55 = Rs. 0.22x and x = Rs. 250. The likely wrong choice is Rs. 225, caused by applying the 40% profit to the original cost price instead of the reduced 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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