Question
The profit earned on the item sold at the rate of 2720
rupees, is 11% more profit than the loss on the same item sold at the rate of Rs. 1,243. Find the purchase price of the item.Solution
Let cost price of the article be Rs. x (2720-x) = (x-1243) x 111/100 272000-100x=111x- 137973 111x+100x = 272000 + 137973 211x=409973 x = 409973/211 x = Rs. 1943 The cost price of the article is Rs. 1943.
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