By selling an article for Rs. 704; a person loses 12%. Find his cost price and the loss.

S.P. of an article = Rs. 704
C.P. = $\frac{100}{(100-Loss}\times S.P$.
= $\frac{100}{(100-12)}timesRs.704=Rs.\frac{100}{88}\times 704$
= $Rs.100\times 8=Rs.800$
Loss = C.P. - S.P.
= Rs. 800- Rs. 704 = Rs. 96