Multiple choice

By selling an article for Rs. $ 144$, a man loses $\left (\dfrac {1}{7}\right)^{th}$ of its cost price. By selling it for Rs. $168$, his gain or loss is.

  1. neither gain nor loss
  2. $20 \%$ gain
  3. $20 \%$ loss
  4. $2 \%$ gain
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Loss = (1/7)CP. SP = CP - (1/7)CP = (6/7)CP = 144. So CP = 144 * 7 / 6 = 168. Selling at 168 means SP = CP, so there is neither gain nor loss.

AI explanation

If selling an article for Rs 144 results in a loss of 1/7 of the cost price, the selling price represents 6/7 of the cost price. Setting up the equation 6/7 * CP = 144 yields a cost price of Rs 168. Therefore, selling the article for Rs 168 results in neither gain nor loss.

Keep practicing — related questions