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

A salesman has the liberty to sell a hair dryer in his store at a price between Rs. 300 and Rs. 700. Profit earned by selling

Profit = selling price – cost price

Loss = cost price – selling price

Given 650 – c.p. = 2(cp – 350)

650 – cp = 2cp – 700

650 + 700 = 2cp + cp

3cp = 1350

c p = 1350 / 3

= 450

So cost price of hair dryer will be Rs 450