Question

a business man sold a flat making a profit of 16% if he had sold the flat for 500000 less he would have suffered a loss of 16% find the cost price of the flat

Answer 1

The cost price of the flat = Rs. 1562500

Let selling price of the flat = Rs. x

let the coat price of the flat = Rs. y

Profit earned by the business man = 16

profit % = profit / cost price × 100

16 = (x-y)/y × 100

=> 0.16y = (x-y)

=> 1.16y = x

When the selling price of the flat is x-500000 , the business man will suffer a loss of 16%.

loss% = loss/cost price × 100

16 = (y-x+500000)/y × 100

=> 0.16 y = y-1.16y+500000 [1.16y = x]

=> 0.32y = 500000

=> y = 1562500

The cost price of the flat = Rs. 1562500