Question
Download Solution PDFOn selling an item for 440 rupees, loss is 60% of the profit received on selling the same item in 1000 rupees. Know the purchase price of that item? (In rupees)
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFCalculation:
Let cost price of the item be Rs. x
According to the question
(x – 440) = (1000 – x) × 60/100
⇒ (x – 440) = (1000 – x) × 3/5
⇒ 5x – 2200 = 3000 – 3x
⇒ 5x + 3x = 3000 + 2200
⇒ 8x = 5200
⇒ x = 5200/8
⇒ x = 650
∴ The correct answer is option (1).
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