Question

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

Answer 1

Answer:

the answer is 550 ruppees

Answer 2

Answer:

Rupees 550

Step-by-step explanation:

Let the cost price be C and the loss occurred be L. If we go by the condition of the question, we'll get the following two equations:

C + 3L = 700 and C-L= 500;

If we solve the following two equations, We need to multiply the latter equation by 3 and then adding the 2 equations.

After adding the equations, we get

4C = 2200

C = 550

Here C was cost price, so this is the final answer, you can verify it from the question

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