Paper 1 · Mathematical Reasoning and Aptitude
UGC NET June 2024 Re-Exam (23.08.2024) Shift-I
A person sold an item at a loss of 7%. Had he sold the item at a gain of 7.5%, he would have received Rs. 87 more than his selling price. The cost price of the item is:
ARs. 500
BRs. 550
CRs. 600 ✓ Correct
DRs. 650
Correct answer: (C) Rs. 600 — The cost price is 600 rupees, so that is the answer.
Explanation
★The cost price is 600 rupees, so that is the answer.
★Selling at a 7 percent loss gives 93 percent of the cost price.
★Selling at a 7.5 percent gain gives 107.5 percent of the cost price.
★The difference between these is 87 rupees.
★That difference is 14.5 percent of the cost price, which equals 87.
★So the cost price is 87 divided by 0.145, which is 600 rupees.
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