Multiple choice

An item is sold at two successive gains of 30% and 20%. If the final selling price is Rs. 31,200, then what is the cost price (in Rs.)?

  1. 15,000

  2. 20,000

  3. 22,250

  4. 24,000

  5. na
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let CP be x. x * 1.3 * 1.2 = 31200. x * 1.56 = 31200. x = 31200 / 1.56 = 20000.

AI explanation

Using the formula for successive gains, the final selling price equals CP times 1.30 times 1.20. This means 31,200 equals CP times 1.56. Dividing 31,200 by 1.56 gives the cost price of Rs. 20,000.

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