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?

- Rs. 160 only
- Rs. 240 only
- Rs. 160 or Rs. 240
- 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, x^{2} = 400(x - 96)

⇨ x^{2} - 400x + 38400 = 0

⇨ x^{2} - 160x - 240x - 38400 = 0

⇨ x(x - 160) -240(x - 160) = 0

⇨ x = Rs. 160 or Rs. 240

**The correct option is C.**