A product is sold at a loss of $12\%$ for Rs $704$. The cost price is:

Question

A product is sold at a loss of $12\%$ for Rs $704$. The cost price is:

Option A

Rs 760

Option B

Rs 780

Option C — Correct answer

Rs 800

Correct choice.

Option D

Rs 820

Explanation

If selling price is $88\%$ of cost price, CP $=704\div0.88=800$.

Chapter Mock 4: Profit and Loss