If you sell an article for Rs. 24, you lose the same percentage as the item purchased for Rs. What is the price of the item?
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Answer:
CP = Rs.60 or CP = Rs.40 (Both are valid)
Step-by-step explanation:
SP = Selling price = 24
Loss% = x
CP = x
Loss = CP - SP
Loss% = 100*(CP - SP)/CP
x = 100*(x - 24)/x
=> x² = 100x - 2400
=> x² - 100x + 2400 = 0
=> (x - 60)(x - 40) = 0
=> x = 60 or x = 40
The cost price of the item (CP) can be either Rs.60 or Rs.40. Both the answers are valid.
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