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A shopkeeper sells an article at Rs. 40 and gets X% profit. However, when he sells it at Rs. 20, he faces same percentage of loss. What is the original cost of the article ?
- A.Rs. 10
- B.Rs. 20
- C.Rs. 30
- D.Rs. 40
▶ Answer & Explanation
Correct answer: C. Rs. 30
Let the cost price be CP. When sold at Rs. 40, the profit is (40 - CP). The profit percentage is
[(40 - CP) / CP] * 100 = X. When sold at Rs. 20, the loss is (CP - 20). The loss percentage is
[(CP - 20) / CP] * 100 = X. Since the percentage of profit and loss are equal, we can equate the expressions for X. This implies that the profit amount (40 - CP) must be equal to the loss amount (CP - 20). Solving this equation gives 2CP = 60, so CP = 30.
Source: UPSC csat 2018