Question

A bucket was sold at a loss of 8 % . Had it been sold for rs56 more , there would have been a gain of 12%. What is the Cost Price ? Please explain.

Answer 1

Given, Loss% = 8%

Let the CP be Rs. x

SP = CP - CP * (L%/100)

SP = x - x * (8/100)

SP = Rs. 92x/100

Condition: Had it been sold for Rs.56 more , there would have been a gain of 12%

If SP was Rs. 56 more, Gain % = 12%

So, SP = (92x/100) + 56

SP = (92x + 5600)/100

Gain% = 12%

CP = (SP*100)/(100+G%)

x = (((92x + 5600)*100)/100)/112

112x = 92x + 5600

112x - 92x = 5600

20x = 5600

x = 5600/20

x = Rs. 280

CP = Rs. 280