An article was sold at a loss of 12%. If it was sold for ₹ 630 more, then there would have been a gain of 6%. Find the cost price of the article.
Show answer & explanation
Correct answer: D
Explanation
Given:
Selling price at 12% loss = 88% of cost price
If sold for ₹630 more, there would be a 6% profit, i.e., selling price = 106% of cost price.
Difference between the two selling prices = 106% − 88% = 18% of cost price
18% of cost price = ₹630
Cost price = 630 × 100/18= ₹3500