If the selling price of an article is Rs. 216 and the profit is 8%, find the cost price. MCQ with Answer and Explanation

Explanation:
CP = 12000 / 1.20 = 10000.

Explanation:
When two items are sold at the same price, one at x% profit and the other at x% loss, the overall transaction results in a loss of (x^2)/100 %. Loss % = (10*10)/100 = 1%.

Explanation:
Let CP of 1 = 1, CP of 10 = 10, SP of 8 = 10 => SP of 1 = 10/8 = 1.25, gain = 25%.