Question

There is a loss on selling an item in 500. If this item was sold in 800, then the shopkeeper would get three times the profit from the loss earlier. What is the price of this item?

Answer 1

Answer:

Let the loss in first case Rs x by when the article is scold at Rs 500.

= c.p = (500 + x)

In the second case the S. P =700 Rs and he gains 3 times of Rs x.

Rs(700-500-x)= Rs 3x

or 4x=200

or x=Rs 50.

:- From (i) the c.p. =Rs (500+50) = 550 Rs.

so the cost price Of the article = Rs 550.