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Profit and Loss

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  1. A man sold an article for ₹ 322, gaining 1/6th of his outlay. Find the cost price of the article ?
    1. ₹ 300
    2. ₹ 376
    3. ₹ 175
    4. ₹ 276
Correct Option: D

Let CP = N, then gain = N/6
According to the question,
N + N/6 = 322
⇒ 7N/6 = 322
∴ N = 322 x 6/7 = ₹ 276


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