Question
‘A’ sold an article for Rs. 2400 and earned a
profit that is 1/3rd greater than the loss he would have incurred if he had sold it for Rs. 300. Determine the cost price of the article.Solution
Let the cost price of the article be Rs. x Therefore, profit earned when sold for Rs. 2400 = Rs. (2400 – x) Loss when sold for Rs. 300 = Rs. (x – 300) According to the question, (4/3) × (x – 300) = 2400 – x Or, 4x – 1200 = 7200 – 3x Or, x = 8400/7 = 1200 Therefore, cost price of the article = Rs. 1200
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