Question
Download Solution PDFThe Loss incurred by selling an article at Rs.5075 is 45% of the gain attained by selling the same article at Rs.10150. Find the cost price of the article. (In Rs.)
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The Loss incurred by selling an article at ₹5075 is 45% of the gain attained by selling the same article at ₹10150.
Formula used:
Loss = 45% of Gain
Gain = Selling Price - Cost Price
Calculation:
Let the Cost Price (CP) = x
Loss = x - 5075
Gain = 10150 - x
According to the question:
⇒ x - 5075 = 0.45 × (10150 - x)
⇒ x - 5075 = 4567.5 - 0.45x
⇒ x + 0.45x = 4567.5 + 5075
⇒ 1.45x = 9642.5
⇒ x = 6650
∴The correct answer is option (2).
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