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Question : A man sells an article at a loss of 10%. If he had sold it for Rs. 75 more he would have gained 20%. The cost price of the article is (in Rs.):

Option 1: 225

Option 2: 300

Option 3: 150

Option 4: 250


Team Careers360 9th Jan, 2024
Answer (1)
Team Careers360 14th Jan, 2024

Correct Answer: 250


Solution : Let the cost price of the article $=C$
The man sells the article at a loss of 10%.
Then the selling price of the article = Rs. 0.9$C$
If he had sold it for Rs. 75 more.
The selling price $=\mathrm{0.9C + 75}$
Given that this would have resulted in a gain of $20\%$.
$0.9C + 75 = 1.2C$
⇒ $C = \frac{75}{0.3} = 250$
Hence, the correct answer is 250.

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