Question

an article was sold for rupees 500 and hence a loss is in colour 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

550 is the cost price of the article

Answer 2

Answer:

The cost price of the article is Rs.550​

Step-by-step explanation:

Consider the cost price of the article = Rs X

If Sold price of the article is =Rs. 500

Shopkeeper made a loss

therefore$\text{Loss}=\text{Cost Price}-\text{Sold Price}=(X-500)$

If Sold price of the article is =Rs. 700

Shopkeeper made a Profit

Therefore

$\text{Profit}=\text{Sold Price}-\text{Cost Price}=(700-X)$

As per the problem,

$\therefore\text{Profit}=3\times\text{Loss}\\\\\Rightarrow (700-X)=3\times(X-500)\\\\\Rightarrow (700-X)=3X-1500\\\\\Rightarrow 3X+X=1500+700\\\\\Rightarrow 4X=2200\\\\\Rightarrow X=550$

The cost price of the article is Rs.550​