Aptitude on Profit & Loss: – A gold bracelet is sold for 14500 at a loss of 20%. What is the cost price of the gold bracelet?
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By selling 33 metres of cloth, one gains the selling price of 11 metres.find the gain percent.
Problem : To find the cost price (CP) of the gold bracelet.
Solution:
Data Provided: Selling Price and Loss %
Find : CP ?
If loss is 20%, it means that if the cost price is ₹100, the loss incurred is ₹20.
If CP is ₹100, then SP is ₹80 , it means the selling price is 80% of the cost price.
When SP is ₹80, CP = ₹100
When SP is ₹14,500
CP = (100/80) × 14,500 = 18,125
CP = ₹18,125
Answer: The cost price of the chair is ₹18,125.
Another Method:
The selling price is calculated as 80% of the cost price (since 100% – 20% = 80%).
So, 0.8×18125=14,500.
Hence, the cost price of the gold bracelet is ₹18,125.