5 Views

Question : If an article is sold at a 6% profit instead of a 6% loss, the seller gets INR 60.72 more. Find the Cost price of the article.

Option 1: INR 506

Option 2: INR 606

Option 3: INR 572

Option 4: INR 672


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: INR 506


Solution : Let the cost price of the article be 100$x$.
If it is sold for 6% profit, then the selling price = 106$x$
If it is sold for 6% loss, then the selling price = 94$x$
The difference in the selling price = 106$x$ – 94$x$ = 12$x$
Given, the difference in price = 60.72
According to the question:
⇒ 12$x$ = 60.72
⇒ $x$ = $\frac{60.72}{12}$
⇒ The cost price of the article = 100$x$ = 100 × $\frac{60.72}{12}$ = INR 506
Hence, the correct answer is INR 506.

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books