Question
Download Solution PDFBy selling an item for Rs 1741, the profit earned would be 11% more than the loss incurred by selling the same item for Rs 897. Find the cost price of that item?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
SP1 = Rs. 1741
SP2 = Rs. 897
Calculation:
Let 'x' be the cost price of the item,
So,
(1741 - x) = (x - 897) × 111/100
⇒ 100 × (1741 - x) = (x - 897) × 111
⇒ 174100 - 100 x = 111x - 99567
⇒ 174100 + 99567 = 111x + 100x
⇒ 273667 = 211x
⇒ x = 273667/211 = 1297
∴ The cost price of the item is Rs. 1297
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