Profit and loss

Quantitative Aptitude (CGL)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

A shopkeeper sold an article for Rs455 at a loss (in Rs). If he sells it for Rs490, then he would gain an amount four times the loss.

At what price (in Rs) should he sell the article to gain 25%?

This questions was previously asked in

SSC CGL 24th August 2021 Shift-3

575

577.50

570.50

115.50

- Let's determine the cost price (CP) of the article.

- At Rs455, the shopkeeper incurs a loss.

- If selling for Rs490 results in a gain four times the loss, we can express this in an equation.

- Let 'x' be the loss amount in Rs.

- Then CP = Rs455 + x.

- At Rs490, the gain is expressed as Rs490 - CP = 4x.

- Solving the equation, Rs490 - (Rs455 + x) = 4x gives the loss and gain relationship.

- Solving for x, we get x = Rs7.

- Thus, CP = Rs455 + Rs7 = Rs462.

- To gain 25%, selling price should be CP + 25% of CP = 1.25 * Rs462.

- This calculation gives Rs577.50.

Option 2: 577.50 is the correct choice.