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Profit and Loss – Recover selling price after a known absolute loss: Anita purchased a bicycle at a cost of ₹ 3200 and sold it at a loss of ₹ 240. At what price did she sell the bicycle?

Difficulty: Easy

₹ 2960
₹ 2690
₹ 3440
₹ 3360
₹ 2800

Correct Answer: ₹ 2960

Explanation:

Introduction / Context:This problem uses an absolute loss amount to find the selling price directly.

Given Data / Assumptions:

CP = ₹ 3200
Loss (absolute) = ₹ 240

Concept / Approach:SP = CP - Loss.

Step-by-Step Solution:SP = 3200 - 240 = 2960

Verification / Alternative check:Loss = 3200 - 2960 = 240, which matches the given condition.

Why Other Options Are Wrong:2690, 3440, 3360, 2800 do not equal CP minus the stated loss.

Common Pitfalls:Accidentally adding the loss to CP.

Final Answer:₹ 2960

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