Multiple choice

The difference of 33% loss and 7% profit on selling an article is Rs. 220. What is the cost price of the item?

  1. Rs. 550

  2. Rs. 525

  3. Rs. 600

  4. Rs. 575
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A Correct answer
Explanation

A 33% loss means the selling price is 67% of cost price (100% - 33%). A 7% profit means the selling price is 107% of cost price. The difference between these two selling prices is 107% - 67% = 40% of the cost price. Given this difference is Rs. 220, we have 40% of CP = 220, so CP = 220 × 100/40 = Rs. 550. Alternatively: Let CP be x. Then 1.07x - 0.67x = 220, so 0.40x = 220, giving x = 550.

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