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- Identify CP and SP.
- Find profit/loss amount.
- Use CP as base for percentage if asked.
Correct Answer: B
Correct Answer: B
Method / Topic: Profit and Loss
Profit or loss percentage is calculated on cost price.
Short Explanation
Detailed Explanation
Correct Answer: B
Method / Topic: Profit and Loss
Selling at 8% loss means the selling price is 92% of the cost price. So 92% of CP = Rs. 920. Therefore, CP = 920 × 100 / 92 = Rs. 1000. In a shop example, if the item originally cost Rs. 1000 and the shopkeeper lost 8%, he lost Rs. 80 and sold it for Rs. 920.
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Learn + Solve: Shortcut, Trap & Fast Route Click to view shortcut, steps, and common mistake
Shortcut used, common trap, and the fastest solving route
- Identify CP and SP.
- Find profit/loss amount.
- Use CP as base for percentage if asked.
A shopkeeper sells an article for Rs. 920 at a loss of 8%. What was the cost price?
Explanation
Correct Answer: B
Method / Topic: Profit and Loss
Profit or loss percentage is calculated on cost price.
Short Explanation
Detailed Explanation
Correct Answer: B
Method / Topic: Profit and Loss
Selling at 8% loss means the selling price is 92% of the cost price. So 92% of CP = Rs. 920. Therefore, CP = 920 × 100 / 92 = Rs. 1000. In a shop example, if the item originally cost Rs. 1000 and the shopkeeper lost 8%, he lost Rs. 80 and sold it for Rs. 920.
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