General Aptitude TestNumerical AbilityProfit and Loss

A man sold his furniture at a 25% gain. Had he sold it at 15% loss, h…

A man sold his furniture at a 25% gain. Had he sold it at 15% loss, he would have received ₹800 less. Find cost price of the furniture.

Answer & explanation

Correct answer: option 3

According to the question,

Gain = 25%

If we sold at 15% loss he would have received ₹800 less.

Now,

(25% + 15%) of CP = 800

40% of CP = 800

then, 100% of CP = 800 × \(\frac{100}{40}\) = ₹2,000