Question

A man sells a sofa set at a gain of 5%. If he had sold it for Rs. 490 less, he would have had a loss percentage of 2% . Find the cost price of the sofa set.

• A. Rs. 7000
• B. Rs 7200
• C. Rs 6000
• D. Rs 6500

Answer 1

The correct option is A Rs. 7000

Suppose C.P of the sofa set =Rs.x
Gain =5%
$\therefore S.P=Rs.\frac{(100+5)\times x}{100}=Rs.\frac{21}{20}x$
Loss =2%
$\therefore S.P=Rs.\frac{(100-2)\times x}{100}=Rs.\frac{49}{50}x$
Difference in two S.P.s=$Rs.(\frac{21}{20}x-\frac{49}{50}x)=(\frac{105-98}{100})x=Rs.\frac{7}{100}x$
If difference in S.P is $Rs.\frac{7}{100}x$, then C.P=Rs.x
If difference in S.P is Rs.490,then C.P
$=Rs.\frac{x\times 490\times 100}{7\times x}=Rs.7000$
Hence the C.P of sofa set is Rs.7000