Selling an item for 300 rupees is the loss of 40% of the profit received on selling the same item for 1000 rupees. Know the purchase price of that item? (In rupees).
Let the cost price of the item be Rs. x According to the question (x-300) =(1000-x) x 40/100 (x-300) = (1000-x) x 2/5 5x-1500 = 2000-2x 5x + 2x = 2000 + 1500 7x = 3500 x = 3500/7 x = 500
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