Question

Satish calculates his loss percentage on selling price in place of cost price and found 20% loss. He again calculates it and found that he sold articles at Rs. 96 less than cost price. Find the cost price of article.

Answer 1

Answer:

Cost Price = Rs. 576

Step-by-step explanation:

formula for loss%

{(CP - SP)/CP}×100

but he mistakenly put SP in denominator

{(CP - SP)/SP}×100=20

(CP - SP)/SP = 1/5

=> (5/6)CP = SP.......(I)

SP = CP - 96............(ii) (given)

From (I) and (ii)

5CP = 6CP - 6×96

CP=576