Question : A man sold an article at a gain of 5%. Had he sold it for Rs. 240 more, he would have gained 8%. The cost price of the article is:
Option 1: Rs. 6,000
Option 2: Rs. 10,000
Option 3: Rs. 12,000
Option 4: Rs. 8,000
Latest: SSC CGL preparation tips to crack the exam
Don't Miss: SSC CGL complete guide
Correct Answer: Rs. 8,000
Solution :
Initial gain = 5% of cost price
After increasing the selling price by Rs. 240,
Final gain = 8% of cost price
⇒ Rs. 240 = 8% of cost price– 5% of cost price
⇒ Rs. 240 = 3% of cost price
Cost price = $\frac{240}{0.03}$ = Rs. 8,000
Hence, the correct answer is Rs. 8,000.
Related Questions
Know More about
Staff Selection Commission Combined Grad ...
Answer Key | Eligibility | Application | Selection Process | Preparation Tips | Result | Admit Card
Get Updates BrochureYour Staff Selection Commission Combined Graduate Level Exam brochure has been successfully mailed to your registered email id “”.