Question

A dealer sold an article at a loss of 2%. Had he sold it for Rs. 44 more, he would have gained 20%. Find the cost price of the article
1. Rs. 250
2. Rs. 200
3. Rs. 400
4. Rs. 300

Answer 1

Correct Answer - Option 2 : Rs. 200

Given:

Loss occurred = 2%

If sold for Rs. 44 more then would have gained 20%

Concept used:

\(CP = {SP\times 100 \over 100 \pm gain /loss }\)

Calculation:

Let the Cost Price be Rs.100 units

then, initial SP will be Rs.98 units

As per the question

Initial SP + Rs.44 = 120 units (∵ 20% gain)

⇒ (120 - 98) units = Rs.44 

⇒ 22 units = Rs. 44

⇒ 1 unit = Rs. 44/22 = Rs.2

∴ Cost price of the article is Rs. 200