Question : A shopkeeper sells an item at a loss of 8%. However, if he increases the selling price by Rs. 36, he could gain 12%. Find the cost price of the article (in Rs.).
Option 1: 180
Option 2: 270
Option 3: 150
Option 4: 360
Correct Answer: 180
Solution :
Given,
Loss percentage = 8%
Increase in Selling price = Rs 36
Gain percentage = 12%
(100 + Gain %) – (100 – Loss %) = Increase
Let the cost price of an item be Rs $x$.
According to the question,
⇒ $(100 + 12)x - (100 - 8)x = 36 × 100$
⇒ $112x - 92x = 3600$
⇒ $x = \frac{3600}{20}$
⇒ $x = 180$
Hence, the correct answer is 180.
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