An article sold for Rs 144 results in a loss equal to 1/7 of the cost. If it is sold instead for Rs 168, determine the gain or loss percentage.

Introduction:Given a fractional loss on cost, you can recover the cost price from the selling price. Substituting the new selling price then shows the new gain or loss relative to the same cost base.

Given Data / Assumptions:

• At SP = Rs 144, loss = 1/7 of cost.
• We compare with SP = Rs 168 under the same cost.

Concept / Approach:If loss is 1/7 of cost, then SP = cost - cost/7 = (6/7) * cost. From this, compute cost. Then assess the gain or loss at the new SP of Rs 168.

Step-by-Step Solution:144 = (6/7) * CP ⇒ CP = 144 * 7 / 6 = 168At SP = 168, compare with CP = 168Gain/Loss = 168 - 168 = 0Percentage = 0%

Verification / Alternative check:Original loss at SP 144: Loss = CP - SP = 168 - 144 = 24, which is indeed 1/7 of 168, confirming the cost. Setting SP = 168 removes the loss, giving break-even.

Why Other Options Are Wrong:

• 20% gain or 20% loss: do not match the computed equality of SP and CP.
• None of these: incorrect because 0% is definitive.

Common Pitfalls:

• Treating 1/7 of SP as the loss instead of 1/7 of cost.

Final Answer:0% (no gain no loss)