Multiple choice

A person sold an article at a loss of 12%. Had he sold it for Rs. 162 more, he would have gained 24%. If the article is sold for Rs. 360, then loss percent is:

  1. 18

  2. 20

  3. 25

  4. 15
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let CP be the cost price. 0.88 * CP + 162 = 1.24 * CP leads to 0.36 * CP = 162, so CP = 450. Selling at 360 results in a loss of 90, which is (90/450) * 100 = 20 percent.

AI explanation

Let the cost price be Rs. X. Selling at a 12% loss equals 0.88X, and selling at a 24% gain equals 1.24X. The Rs. 162 difference means 1.24X - 0.88X = 162. Solving gives 0.36X = 162, so X = Rs. 450. Selling for Rs. 360 creates a loss of 90, and (90 / 450) * 100 = 20%.

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