A person sold an item at a loss of 7%. Had he sold the item at a gain of 7.5%, he would have received…
The two selling prices differ by \(7.5\%+7\%=14.5\%\) of the cost price. This difference is ₹87, so the cost price is \(87/0.145=600\), that is ₹600. As a check, a 7% loss…
Choose your answer
A person sold an item at a loss of 7%. Had he sold the item at a gain of 7.5%, he would have received Rs. 87 more than his selling price. The cost price of the item is :
Answer and explanation
Correct answer C
The two selling prices differ by of the cost price. This difference is ₹87, so the cost price is , that is ₹600. As a check, a 7% loss gives ₹558 and a 7.5% gain gives ₹645, which differ by ₹87.
Practice for these exams
-
UGC NET Law
Subject revision
See pack details on LawMint.net -
UGC NET Paper I