Profit and loss

Quantitative Aptitude (MTS)

Title

45:30

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Indian Economy - Understanding the basics of Indian economic system

Ravi sold a chair at a loss of 40%. The selling price of the chair is Rs900. What is the cost price of the chair?

This questions was previously asked in

SSC MTS 6th July 2022 Shift-3

Rs1,800

Rs1,260

Rs1,660

Rs1,500

- Ravi sells a chair for Rs900, incurring a 40% loss.

- A 40% loss implies that 60% of the cost price (CP) is Rs900.

- To find the cost price, use the formula:

- CP = Selling Price / (1 - Loss Percentage)

- Substitute the known values:

- CP = 900 / 0.6

- CP = Rs1,500

- The cost price of the chair is Rs1,500.

- Let's evaluate the options:

- Option 1: Rs1,800 - More than the correct CP.

- Option 2: Rs1,260 - Less than the correct CP.

- Option 3: Rs1,660 - More than the correct CP.

- Option 4: Rs1,500 - Correct cost price.