Question

By selling an article for 475 there is loss of 5%.Find the Cost Price​

Answer 1

Answer:

SP=rs 475

lost %=5

Cp= 100/100-5 *475(SP)

100/95*475=500 rs

Answer 2

Answer:

Complete step by step answer:

We are given that he sold the article for Rs. 475 to get the profit

Let us assume that the selling price in this condition as

⇒S1=475

We know that If C.P is the cost price and the S.P is the selling price of an article then

Profit=S.P−C.P

By using the above formula we get the profit of the article as

⇒P=S1−C⇒P=475−C

Now, let us consider the loss condition

We are given that if the selling price is Rs. 325 then he got the loss.

Let us assume that the selling price in this condition as

⇒S1=475

We know that If C.P is the cost price and the S.P is the selling price of an article then

Loss=C.P−S.P

By using the above formula we get the profit of the article as

⇒L=C−S2⇒L=C−325

We are given that the profit and loss in the given two selling prices is same.

By converting the above statement into mathematical equation we get

⇒P=L⇒475−C=C−325⇒2C=800⇒C=400

Therefore we can conclude that the cost price of given article is Rs. 400