Question

An article is sold for Rs.500 and hence a loss is incurred.Had the article been sold for Rs.700 the shopkeeper would have gained three times the former loss. What is the cost price of articles
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Answer 1

Answer:

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Step-by-step explanation:

first formula :If current loss is x then would-be profit is 3x

If article is sold for 700 then it will first wipe out earlier loss and earn new profits.

=> 700 - 500 = 200 represents 4x

=> x = 50

Cost price = 550

second formula :Let C.P of article = x

S.P of article = 500

Loss(L) = x - 500……..(1)

Second Case

S.P of article = 700/-

Here profit is equal to three times loss.

Therefore 3(L) = 700 - x… … . (2)

Solving equations (1) and (2)

Loss(L) = 50/-

C.P of article = x = 550/- Ans.