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.
500
- B.
550
- C.
600
- D.
650
Attempted by 4 students.
Show answer & explanation
Correct answer: C
Let the Cost Price be x.
Selling Price at 7% loss = 0.93x
Selling Price at 7.5% gain = 1.075x
Difference = 1.075x - 0.93x = 87
0.145x = 87 => x = 600
The Cost Price is Rs. 600.