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 sells an item for Rs492 after allowing 18% discount on its marked price. Had he NOT allowed any discount, he

would have earned a profit of 20% on the cost price. What is the cost price of the item ?

This questions was previously asked in

SSC CGL 7 June 2019 Shift-2

Rs500

Rs640

Rs540

Rs600

- The item is sold for Rs492 with an 18% discount.

- Let the marked price be MP. So, 82% of MP = 492, i.e., MP = 492 / 0.82 = Rs600.

- If no discount, the shopkeeper would sell at MP = Rs600.

- Without discount, profit is 20% on cost price (CP).

- Therefore, CP + 20% of CP = 600.

- This implies 1.2 * CP = 600.

- Solving for CP gives CP = 600 / 1.2 = Rs500.

- Answer: Rs500