A man sells an item for ₹700 and make some profit. If he sells it for ₹500 his loss is 3/5 of the earlier profit . What is the cost price?
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Answer:
profit = Rs x
Sp=700
CP=700-x
If sp=500, Loss=Xx3/5
sp+ loss=CP
500+3x/5=700-x
multiply by 5
2500+3x=3500-5x
8x=1000
x = 1000/8=125
Profit = 125
CP = 700-x=700-125
= Rs 575. Ans
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