A thing sold at 500 rupees and bear some loss.If it is sold at 700 rupees you get a profit of 3 times as much loss you beared.Find the cost price?
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Let C.P = Rs. x
When S.P = Rs. 500,
Loss = Rs.(x - 500)
When S.P = Rs. 700
Profit = Rs.(700 - x)
A/Q, Loss = 3 × Profit
=> x - 500 = 3 (700 - x)
=> x - 500 = 2100 - 3x
=> x + 3x = 2100 + 500
=> 4x = 2600
=> x = 2600/4
=> x = 650
.°. The cost price (C.P) = Rs. 650
When S.P = Rs. 500,
Loss = Rs.(x - 500)
When S.P = Rs. 700
Profit = Rs.(700 - x)
A/Q, Loss = 3 × Profit
=> x - 500 = 3 (700 - x)
=> x - 500 = 2100 - 3x
=> x + 3x = 2100 + 500
=> 4x = 2600
=> x = 2600/4
=> x = 650
.°. The cost price (C.P) = Rs. 650
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