On selling an item for ₹ 423, there is a loss of 60% from the profit made by selling the same item at the same rate 743. Find the cost price of that item. A) 523 (B) 533 (C) 513 (D) 543
Answers
Step-by-step explanation:
sp1 is 423 there is a loss of 60% of profit by selling an sp2 is 743
let us take cp as x
x-423=( 743-x)* 60/100
by solving x is 543
The correct answer is option (D) Rs 543
GIVEN
On selling an item for ₹ 423, there is a loss of 60% from the profit made by selling the same item at the same rate 743
TO FIND
Find the cost price of that item
SOLUTION
The above problem can be simply solved as follows;
Let the cost price of the item = x
When selling price = Rs 743
Pofit% = [(SP - CP)/CP] × 100
= [(743-x)/x] × 100
When SP = Rs 423
Loss% = [(CP - SP)/CP] × 100
= [(x - 423)/x] × 100
This loss is equal to the 60% of the profit when CP was 743 Rs
Therefore,
[(x - 423)/x] × 100 = 0.6 of [(743-x)/x] × 100
(x - 423) = 445.8 - 0.6x
-423 - 445.8 = -0.6x - x
868.8 = 1.6x
x = 543
Hence, The correct answer is option (D) Rs 543
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