Profit and loss

Quantitative Aptitude (MTS)

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

When an article is sold for Rs640, there is a loss of 12%. To gain 21%, it should be sold for:

This questions was previously asked in

SSC MTS 6th October 2021 Shift-2

Rs774.40

Rs880.00

Rs770.00

Rs828.80

Let’s break it down step by step:

- When sold at Rs640, there is a 12% loss.

- Cost Price (CP) can be found as:

CP = SP / (1 - Loss%) = 640 / (1 - 0.12) = 640 / 0.88 = Rs727.27 (approx).

- To get a gain of 21%, the Selling Price (SP) should be:

SP = CP × (1 + Gain%) = 727.27 × 1.21 = Rs879.99 (approx Rs880.00).

- Checking options:

1. Rs774.40 — too low.

2. Rs880.00 — matches the calculation.

3. Rs770.00 — too low.

4. Rs828.80 — not matching.

Correct answer: Option 2 (Rs880.00)