Question

A dealer gets $Rs.940$ more if instead of selling a table at loss of $10\%$, it is sold at a gain of $10\%$. Find the cost price of the table.

Answer 1

Let the Cost Price (CP) of the table be $100$ units.

Now, loss incurred on the table = $10\%$

Therefore, Selling Price (SP) of the article should be = $100-10\%\text{of}100$

= $100-\frac{10}{100}\times 100$

= $90$ units

Now, profit incurred on the table = $10\%$

Therefore, Selling Price (SP1) of the article should be = $100+10\%\text{of}100$

= $100+\frac{10}{100}\times 100$

= $110$ units

Now, ATQ,

SP1 $-$ SP $=Rs.940$

$\Rightarrow 110-90$ units = $Rs.940$

$\Rightarrow 20$ units = $Rs.940$

$\Rightarrow 1$ units = $Rs.\frac{940}{20}$

$\Rightarrow 100$ units = $Rs.\frac{940}{20}\times 100=Rs.4700$

Hence, the cost price of the table is $Rs.4700$.