Question

A businessman sold a flat making a profit of 16%. If he had sold the flat for 5,00,000 less, he would have suffered a loss of 16%. Find the cost price of the flat.



it is answer ​

Answer 1

Answer:

Cost Price of flat = 1,562,500 Rupees

Step-by-step explanation:

Let the cost price (CP) of flat be x

Since the businessman made a profit of 16%

Selling price (SP) of flat -

= x + 16% of x

= x + 16x/100

= 116x/100

Now, If he had sold the flat for 5,00,000 less, he would have suffered a loss of 16%.

Therefore, New SP = 116x/100 - 500000

However, loss % = 16% Hence New SP = x - 16% of x = x - 16x/100 = 84x/100

.'. 116x/100 - 500000 = 84x/100

116x/100 - 84x/100 = 500000

32x/100 = 500000

32x = 500000 * 100

x = 50000000/32

x = 1562500

Therefore, Cost Price of flat = 1,562,500 Rupees

             

Answer 2

Answer:

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