Multiple choice

An article is sold for Rs $500$ and hence a merchant loses some amount Had the article been sold for Rs $700$ the merchant would have gained three times the former loss The cost price of the article is

  1. Rs $525$
  2. Rs $550$
  3. Rs $600$
  4. Rs $650$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let CP be x. Loss at 500 is x - 500. Gain at 700 is 700 - x. Given 700 - x = 3(x - 500). 700 - x = 3x - 1500. 2200 = 4x, so x = 550.

AI explanation

Let the cost price be Rs C and the former loss be Rs L. The first condition gives 500 = C - L. The second condition gives 700 = C + 3L. Subtracting the first equation from the second yields 200 = 4L, meaning L is Rs 50. Substituting 50 back into the first equation gives 500 = C - 50, so the cost price is Rs 550.

Keep practicing — related questions