Question

A man sold a small cottage at a loss 5% .Had he aold it at a gain of 7%, he would have got Rs 480 more. Find the cost price of the cottage.

Answer 1

When the person sold house at 5% loss, he got 95% value of the cottage.

When he sold it at 7% gain he got 107% value of the cottage.

So, the difference is 12% which is Rs.480

Therefore:

12% = 480

1% = 480/12 = 40

100% = 40*100 = 4000

So, price of cottage is Rs.4000

Answer 2

I hope this helps you