Question

A man sold an article at a loss of $20\%$. If he had sold it for Rs. $12$ more, then he would have gained $10\%$. The cost price of the article is

• A. Rs. $60$
• B. Rs. $40$
• C. Rs. $30$
• D. Rs. $22$

Answer 1

The correct option is B Rs. $40$

Assume the cost of article is $x$
the person sold at $20\%$ loss
$Loss$ $\%$ $=\frac{C.P-S.P}{C.P}=\frac{x-S.P}{x}=\frac{20}{100}$
$\therefore$ $S.P$ $=0.8$ $x$
If he had sold it for Rs. $12$ more, then he would have gained $10\%$.
$Gain$ $\%$ $=\frac{S.P-C.P}{C.P}=\frac{(0.8x+12)-x}{x}=\frac{10}{100}$
$\therefore 12-0.2x=0.1x$
$\therefore 12=0.3x$
$\therefore x=40$