Question

a fan was sold at 2% loss. if the same was sold for rs. 70 more. there would have 5 percent profit. what was its cost price.

Answer 1

Let the CP of the fan be ₹ 100

Loss= 2%

Loss= 2% of C.P = (2/100) × 100= ₹2

S.P = C.P - LOSS

S.P = 100 - 2= ₹98

S.P = ₹ 98

In order to earn a profit of 5% the shopkeeper should sell the fan for ₹(100+5)= ₹ 105

Difference of new S.P - old S.P= ₹(105-98)= ₹7

Thus if the difference in the two selling price is₹ 7 then the cost price is ₹100.

For a difference of ₹ 70(given)

C.P = ₹ ( 100/7)×70= 100×10=₹1000

Hence , its Cost price is ₹ 1000.

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Hope this will help you...