Question

Profit earned by selling an article at $Rs.1630$ is same as the loss incurred by selling the article for $Rs.1320$. Find the cost price.

• A. $Rs.1475$
• B. $Rs.1300$
• C. $Rs.1350$
• D. $Rs.1275$

Answer 1

The correct option is A $Rs.1475$

We know that

Profit =Selling Price -Cost Price

Loss =Cost Price-Selling Price

Given that,

Selling price of the article when sold at profit = Rs 1630

Selling price of the article when sold at loss = Rs 1320

Let Cost price be $x$

$\Rightarrow$ Profit $=1630-x$

$\Rightarrow$ Loss $=x-1320$

GIven that

Profit=Loss

$\Rightarrow 1630-x=x-1320$

$\Rightarrow 2x=2950$

$\Rightarrow x=1475$

Cost Price$=Rs1475$