Question

By selling an article for Rs. $144$, a man loses ${\left(\frac{1}{7}\right)}^{th}$ of its cost price. By selling it for Rs. $168$, his gain or loss is.

• A. neither gain nor loss
• B. $20\%$ gain
• C. $20\%$ loss
• D. $2\%$ gain

Answer 1

Answer: (A)

neither gain nor loss

Let C.P. be Rs. $x$

Then according to the question, we have

$\Rightarrow x-\frac{x}{7}=144$
$\Rightarrow \frac{6x}{7}=144$

$\Rightarrow x=$ Rs. $\frac{144\times 7}{6}=$ Rs. $168$
If C.P. $=$ Rs. $168$ and S.P. $=$ Rs. $168$, then there is neither gain nor loss.