Question

Loss incurred by selling an article for Rs 550 is equal to half of the profit gained by selling same article for Rs 850 Find the cost price of this ar- ticle?

Answer 1

Loss = CP - Sp = cp - 550

Profit = sp - cp = 850 - CP

Loss is equal to half of gain

CP -550 = 1/2 (850-CP)

3/2 Cp = 1/2(850) + 550

3/2 cp = 975

CP = 975 x 2/3 = Rs.650/-

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Verification:

Loss = 650 - 550= 100

Gain = 850 - 650 = 200

Loss is equal to half of gain

Verified.