Multiple choice

The list price of an article was 20% more than the cost price. The shopkeeper suffered 20% loss when he sold the article at Rs. 4800. What was its list price?

  1. Rs. 6000

  2. Rs. 4800

  3. Rs. 7200

  4. Rs. 7000

  5. Rs. 6600
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Loss of 20% means SP = 0.8 * CP. 4800 = 0.8 * CP => CP = 6000. List price is 20% more than CP: LP = 1.2 * 6000 = 7200.

AI explanation

Let the cost price be 100% and apply the loss percentage formula. Since a 20% loss means the selling price is 80% of the cost price, 80% of the cost price equals Rs. 4800, making the cost price 4800 divided by 0.80, which is Rs. 6000. The list price is 20% more than this cost price, so the list price is 6000 multiplied by 1.20, resulting in Rs. 7200.

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