Multiple choice

A trader sells an article at 16% below its cost price. Had he sold it for Rs. 192.20 more, he would have gained 15%. The cost price (in Rs.) of the article is:

  1. 720

  2. 620

  3. 840

  4. 520
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let CP = x. Current SP (at 16% loss) = 0.84x. If sold for Rs. 192.20 more, SP = 0.84x + 192.20, which gives 15% gain, so SP = 1.15x. Therefore: 0.84x + 192.20 = 1.15x, giving 192.20 = 0.31x, so x = 192.20/0.31 = Rs. 620.

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