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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
<table cellspacing="0" style="border-collapse:collapse; width:85px">
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<td style="border-bottom:none; border-left:none; border-right:none; border-top:none; height:20px; vertical-align:top; white-space:normal; width:85px">Marked price = Rs. 800. Discount = 15%, so selling price = 85% of 800 = Rs. 680. This selling price includes a 20% gain, which means SP = 120% of CP. So CP = 680×100/120 = Rs. 566.67. Always move from marked price to selling price first, then from selling price to cost price.</td>
</tr>
</tbody>
</table>
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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 marks an article at Rs. 800 and gives a discount of 15%. If he still gains 20%, find 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
<table cellspacing="0" style="border-collapse:collapse; width:85px">
<tbody>
<tr>
<td style="border-bottom:none; border-left:none; border-right:none; border-top:none; height:20px; vertical-align:top; white-space:normal; width:85px">Marked price = Rs. 800. Discount = 15%, so selling price = 85% of 800 = Rs. 680. This selling price includes a 20% gain, which means SP = 120% of CP. So CP = 680×100/120 = Rs. 566.67. Always move from marked price to selling price first, then from selling price to cost price.</td>
</tr>
</tbody>
</table>
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