A person sells wheat at a profit of 25 percent. If he reduces its selling price by Rs. 40, then he suffers a loss of 25 percent. What was the initial selling price of the wheat?

Question

Question

This question was previously asked in

SSC CHSL Tier-I Exam 2022 Official Paper (Held On: 09 March, 2023 Shift 1)

Answer 1

Calculation:

Let the cost price be Rs. y

When he had a profit,

Selling price = cost price + profit % of cost price

⇒ y + 25% × y = 1.25y

When he had a loss,

Selling price = cost price – loss% of cost price

⇒ y – 25% × y = 0.75y

According to the question,

⇒ 1.25y – 0.75y = 40

⇒ 0.50y = 40

⇒ y = 80

∴ Initial selling price = 1.25y = 1.25 × 80 = Rs.100

Alternate MethodCalculation:

Taking profit percentage as positive and the loss percentage as negative.

⇒ 25% - (-25%) = 40

⇒ 50% = 40

⇒ 1 = 80

S.P = 1.25 = 1.25 × 80 = 100

∴ The selling price is Rs.100.