Profit Loss L1

A person selling an article for Rs. 96 finds that his loss percent is one-fourth of the amount of rupees that he paid for the article. What can be the cost price?

  1. Rs. 160 only
  2. Rs. 240 only
  3. Rs. 160 or Rs. 240
  4. Neither Rs. 160 nor Rs. 240

Solution

Let the cost price be Rs. x. 

Now, loss = Cost price - Selling price = x - 96

Loss % = (x - 96)/x × 100%

Also, loss % = x/4

So, x2 = 400(x - 96)

⇨ x2 - 400x + 38400 = 0 

⇨ x2 - 160x - 240x - 38400 = 0

⇨ x(x - 160) -240(x - 160) = 0

⇨ x = Rs. 160 or Rs. 240

The correct option is C.