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An article was sold after a discount of 20% and there was a gain of 20%. If the profit made on it was Rs. 6 less than the discount offered on it, find its selling price?

Correct answer: A. Rs. 72

  • A. Rs. 72
  • B. Rs. 90
  • C. Rs. 66
  • D. Rs. 96
  • E. None of these

Explanation

Let the cost price be C. A 20% gain makes the selling price 1.20C, and a 20% discount means the marked price is 1.20C ÷ 0.80 = 1.50C, so the discount is 0.30C. Since the discount exceeds the profit by Rs. 6, 0.30C - 0.20C = Rs. 6, giving C = Rs. 60 and selling price = 1.20 x Rs. 60 = Rs. 72. The likely wrong choice is Rs. 90, which results from confusing the marked price with the selling 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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