If a person sells a wooden furniture at 8% profit against 8% loss, then he could had earned Rs12 more. What is the cost price of furniture?
Correct Answer: 75
Explanation:
Let Cost Price (CP) = x
Then Selling Price(SP) if he sells at profit = x(1+8%) = 1.08x
and SP, if he sells at loss = x(1-8%) = 0.92%
Given, 1.08%-0.92% = Rs12
0.16x = Rs.12
⇒x = Rs.75
