Question

A shopkeeper could have earned Rs. 12 more if he had sold a product at 8 percent profit instead of at 8 percent loss. What is the cost price of the product at which the shopkeeper had bought from the distributor?
1. Rs. 75
2. Rs. 72
3. Rs. 80
4. Rs. 70

Answer 1

Correct Answer - Option 1 : Rs. 75

Let the CP of the product be Rs. x.

According to question:

\(((100+8)x)/100 - ((100-8)x)/100 = 12\)

⇒ \(108x/100 - 92x/100 = 12\)

⇒ \(16x/100 = 12\)

⇒ \(x = (12 × 100) ÷ 16\)

⇒ \(x = 1200 ÷ 16\)

⇒ \(x = 75\)

So, the CP of the product is Rs. 75.

Hence, 'Rs. 75' is the correct answer.