Multiple choice

I sold a book at a loss of $8\% $. Had i sold it for Rs $120$ more, $7\%$ would have been gained. Find the cost price of the book.

  1. Rs $900$
  2. Rs $800$
  3. Rs $600$
  4. Rs $750$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the cost price be x. Selling at 8% loss means SP = 0.92x. Selling at 7% gain means SP = 1.07x. The difference is 1.07x - 0.92x = 0.15x = 120. Thus, x = 120 / 0.15 = 800.

AI explanation

The difference in percentage between a 7% gain and an 8% loss is 7 - (-8) = 15%. This 15% of the cost price equals the 120 rupees difference in selling prices. Using the formula Cost Price = (Difference in Money / Difference in Percentage) x 100, we get (120 / 15) x 100 = 800. The cost price of the book is Rs. 800.

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