A shopkeeper sold a toy at a loss of 7%. Had he sold it for $104 more, he would have gained 19%. The cost of toy is $_____
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Step-by-step explanation:
let the cost price be x
loss = 7%
selling price = x - (7/100*x)
so,
x-(7/100*x) + 104 = x + ( 19/100*x)
(100x-7x+10400)/100 = (100x+19x)/100
100(93x+10400) = 100(119x) {both the hundreds would be cancelled}
93x + 10400 = 119x
10400 = 119x-93x
10400 = 26x
x = 10400/26
x = 400
hence the cost price of the toy is $400
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