Question

An article is sold for 500 and hence a loss is
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 ?
(A) 525
(B) 550
(C) 600 (D) 650
​

Answer 1

b-550 is the answer

Answer 2

Answer: The cost price is Rs.550.

Step-by-step explanation:

Let the cost price(C.P) of the article be x

Selling price( S.P) = Rs.500

Since there is a loss, loss = C.P - S.P

Therefore, the loss= x-500

Second case:

C.P = x

S.P = 700

Since there is a gain this time, gain = S.P - C.P

Therefore, gain = 700-x

According to the given condition:

Gain= 3 × Former loss

So, 700-x = 3( x-500)

Solving the equation:

700-x = 3x - 1500

or, 4x= 2200

or x= 2200/4 = Rs.550

Therefore, the cost price is Rs.550.