Profit and Loss Practice Test 1

Question : 32 of 40

Marks: +1, -0

An article was sold at 16% gain. Had it been sold for Rs 200 more, the gain would have been 20%. Then the cost price of the article is:

Solution:

\table \CP,\SP;x,x+{16x}/100={116x}/100 ;,{116x}/100+200

Gain per cent is 20%
Now

20={{116x}/100+200-x}/x × 100

20x= 16x+ 20,000

4x= 20,000

x = 5,000

Cost price = Rs 5,000

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