Question

An article is sold for 500 and hence a loss is in incurred. Had the article been sold for 700 the shopkeeper would have gained three times the former loss what is the cost price of the article​

Answer 1

We know that loss = CP–SP

=CP–500(SP=500)

=700–CP(SP=700)

700–CP =3{CP–500}

700–CP = 3×CP –1500

700+1500 = 3×CP +CP

2200 = 4(CP)

CP = 2200/4 = 500