A dealer sells a toy for Rs. 24 and gains as much percent as the cost price of the toy. Find the cost price of the toy.

Solution:

Given selling price, SP = Rs. 24 

Dealer gains as much percent as the cost price of the article. Let cost price be x.

So gain % = x 

Gain % = (SP – CP) × 100/CP

x = (24-x)× 100/x

x2 + 100 x – 2400 = 0

(x+120) (x-20) = 0

=> x = -120 or x = 20

We neglect x = -120 since the cost price cannot be negative.

So x = 20.

Hence the cost price of the toy is Rs. 20.

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