Question

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

Answer 1

Answer:

Rs 550

Step-by-step explanation:

Let CP be x

loss =CP-500

Also,

If SP=700,

Profit=700-x

…

Given,

Profit=3*loss

700-x=3*(x-500)

700-x= 3x-1500

3x+x= 1500+700

4x= 2200

x= 550

…..

So cost price is Rs. 550

Answer 2

Answer:

575

Step-by-step explanation:

Let Cp be x

loss = Cp -500

also

If sp =800

profit = 800-x

A/Q

profit =3*loss

3*(x-500)

3x-1500

800-x=3x-1500

800+1500=3x+x

2300=4x

4x=2300

x=575