New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A seller marked an article 25% above its cost price and

    sold it after giving a discount of Rs. 60. If the seller earned a profit of 20% in the transaction, then find the cost price (in Rs.) of the article.
    A Rs. 1360 Correct Answer Incorrect Answer
    B Rs. 1420 Correct Answer Incorrect Answer
    C Rs. 1200 Correct Answer Incorrect Answer
    D Rs. 1280 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article = Rs. ‘100x’ Marked price of the article = 1.25 × (100x) = Rs. ‘125x’ Selling price of the article = Rs. ‘125x – 60’ According to the question, 1.20 × 100x = 125x – 60 Or, 125x – 120x = 60 Or, 5x = 60 Or, x = 12 Therefore, cost price of the article = 12 × 100 = Rs. 1200

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