Question

By selling a tape recorder for Rs. 6000 , a loss of Rs. 1000 is suffered. Find its cost price. Also, find the price at which this tape recorder should be sold in order to gain 16%

• A. Selling Price = Rs. 8120
• B. Selling Price = Rs. 7500
• C. Cost Price = Rs. 7600
• D. Cost Price = Rs. 7000

Answer 1

Answer: (A), (D)

The correct options are
A

Selling Price = Rs. 8120

D

Cost Price = Rs. 7000

Given,
Selling price = Rs. 6000
Loss = Rs. 1000
We know that, Loss = C.P - S.P,
$\Rightarrow$Rs. 1000 = C.P - Rs. 6000,
$\Rightarrow$C.P = Rs. 1000 + Rs. 6000 = Rs. 7000
$\therefore$ C.P = Rs. 7000

According to the question,
Gain% = 16% and C.P = Rs. 7000
$\Rightarrow \frac{Gain}{C.P}\times 100=16$
$\Rightarrow$ Gain = $\frac{16}{100}\times Rs.7000=Rs.1120$
$\Rightarrow$ Gain = S.P - C.P
$\Rightarrow$ Rs. 1120 = S.P - Rs. 7000
$\therefore$ S.P = Rs. 7000 + Rs. 1120 = Rs. 8120