Question

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

Answer 1

$<b><u>Given</b></u>$ :-

Selling price (s.p) = rupees 500

Profit = 0

Loss = x rupees

If Selling price {s.p} = 700

Gain = 3x

$<b><u>To find</b></u>$ :-

Cost price

$<b><u>Answer</b></u>$ :-

Loss = C.P - S.P

x = C.P - 500 ........ (1)

Profit = S.P - C.P

3x = 700 - C.P ........ (2)

$<b>By solving equation 1 and 2 we get ;</b>$

C.P = 700 - 3x

C.P = 500 + x

(-) (-) (-)

_______________

0 = 200 - 4x

4x = 200

$\boxed{x = 50}$

$<b>By 1st equation;</b>$

x = C.P - 500

C.P = x + 500

C.P = 50 + 500

$\boxed{C.P = 550}$

Answer 2

Let CP be=₹x

SP=₹500

loss Had Be Occurred.

Then Loss=CP-SP

=₹(X-500)

NOW IF SP=700

Gain Will be 3 times the loss (x-500)

We know

CP+Gain=SP

X+3(x-500)=700

X+3x-1500=700

4x=700+1500

4x=2200

X=2200/4

X=550

CP=x=₹550

CP=₹550