Profit and loss

Quantitative Aptitude (CGL)

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On selling an article for Rs246.80, the gain is 20% more than the amount of loss incurred on selling it for Rs216. If the article is

sold for Rs 220.75, then what is the gain/loss percent(correct to nearest integer)?

This questions was previously asked in

SSC CGL 16th August 2021 Shift-1

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Profit 7%

Loss 5%

Loss 4%

Profit 3%

Explanation:

- Let's denote the cost price of the article as CP.

- Selling at Rs 246.80 gives a gain G, which is 20% more than the loss L when selling at Rs 216.

- From this, we have: G = L + 0.20L = 1.20L.

- Using the selling prices, we have:

- 246.80 = CP + G

- 216.00 = CP - L

- Solving these equations:

- 246.80 - CP = 1.20L

- CP - 216.00 = L

- Adding the equations gives:

- 246.80 - 216.00 = 2.20L

- Solving, L = 14.00 and CP = 230.00

- Selling at Rs 220.75 gives:

- Loss = 230.00 - 220.75 = 9.25

- Loss % = (9.25/230.00) × 100 = 4%

Correct answer: Option:3 - Loss 4%

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By: santosh

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