Question

A man sold an article for ₹88 for a loss. But if he sells it for ₹112, then he would gain an amount thrice the loss. Find the CP of the article.

Answer 1

Let X be the loss. Then by formula cost price = selling price +loss
here sp = 88 , loss = X , CP = 88+X ---(1)
if he sells for 112, profit = 3X
since, CP=SP - profit
then CP = 112 - 3X----(2)
from (1) and (2)
we get,
88 + X =112-3X
solving, 4X = 24 , X= 24/4 = 6
so Loss, X=6
Therefore CP = 88 + 6 =Rs 94