Question

Sam sold his dining table set at a loss of 20%. If he had sold it for ₹800 more, he would have received a profit of 5%. Find the cost price.

Answer 1

Let x be the cost price.
Selling price = x-20% of x
= x - 0.2x
= 0.8 x

Now we have if he sold it for 800 more he would have received a profit of 5%

0.8 x + 800 = x + 0.05x
0.8x - x - 0.05 x = -800
0.25x = 800

Therfore the cost price is
X = 800/0.25

X = 3200 Rs

Therefore the cost price of the dining table that sam bought is Rs.3200

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