Multiple Choice Questions on A trader sold an article at a gain of 20 Had he purchased it for 40 more and sold for Rs 24 less the........... for SSC (CPO) Exam Preparation

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Multiple Choice Questions

A trader sold an article at a gain of 20 Had he purchased it for 40 more and sold for Rs 24 less the...........

Quantitative Aptitude (CPO) Profit and loss
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    A trader sold an article at a gain of 20%. Had he purchased it for 40% more and sold for Rs 24 less, then he would have incurred a loss of 20%. What is the cost price (in Rs) of the article?

    150

    Incorrect Answer

    300

    Correct Answer

    450

    Incorrect Answer

    600

    Incorrect Answer
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    Explanation:

    300

    20%= 20/100= 1/5 hence if cp =5x gain would be 1x and sp= 6x

    Now cp becomes 40% more it means new cp is 140%

    Cp= 5x  *  (140/100)  = 7x

    New sp= 6x-24………   (i)

    He incurred 20% loss

    So sp would be 80% of cp= 7x * (80/100)

    =28x/5     putting the value in eqn (i)

    28x/5= 6x-24

    28x = 30x-120

    X= 60

    Hence cp= 5x=5*60=300

    By: Parvesh Mehta
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