Question

A salesman has the liberty to sell a hairdryer in his store at a price between$₹300$ and $₹700$ the Profit earned by selling the hairdryer for '$₹650$' is twice the loss incurred when it is sold for$₹350$. What is the cost price of the hairdryer?

Answer 1

Find the cost price of the hairdryer

Let the cost price of the hairdryer be $C.P$ and its selling price be $S.P$

Given: A salesman has the liberty to sell a hairdryer in his store at any price between$₹300$ and$₹700$.

And profit earned by selling the hairdryer for '$₹650$' is twice the loss incurred when it is sold for $₹350$

$\because$ Profit $=$Selling price $-$Cost price

Using given condition in problem

$\therefore 650-\mathrm{C}.\mathrm{P}=2\left(\mathrm{C}.\mathrm{P}-350\right)$

$\begin{array}{rcl}& \Rightarrow & 650-\mathrm{C}.\mathrm{P}.=2\mathrm{C}.\mathrm{P}-700\\ & \Rightarrow & 650+700=3\mathrm{C}.\mathrm{P}\\ & \Rightarrow & 3\mathrm{C}.\mathrm{P}=1350\\ & \Rightarrow & \mathrm{C}.\mathrm{P}=\frac{1350}{3}\\ & \Rightarrow & \mathrm{C}.\mathrm{P}=₹450\end{array}$

Therefore, the cost price of a hairdryer is $₹450$