A person sold an item at a loss of 7%. Had he sold the item at a gain of 7.5%,…
2024
A person sold an item at a loss of 7%. Had he sold the item at a gain of 7.5%, he would have received Rs. 87 more than his selling price. The cost price of the item is:
- A.
Rs. 500
- B.
Rs. 550
- C.
Rs. 600
- D.
Rs. 650
Attempted by 23 students.
Show answer & explanation
Correct answer: C
Answer: Rs. 600
Let the cost price be C.
Selling at a 7% loss: Selling price = 0.93 × C.
Selling at a 7.5% gain: Selling price = 1.075 × C.
Difference between these selling prices = 1.075C − 0.93C = 0.145C, and this equals Rs. 87 (given).
Solve for C: C = 87 / 0.145 = 600. Therefore the cost price is Rs. 600.
Check: For C = 600, selling at 7% loss gives Rs. 558 and at 7.5% gain gives Rs. 645; the difference is Rs. 87, as required.