A salesman has the liberty to sell a hair dryer in his store at a price lying…
2025
A salesman has the liberty to sell a hair dryer in his store at a price lying 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.
Rs.550
- B.
Rs.450
- C.
Rs.350
- D.
Rs.150
Attempted by 1 students.
Show answer & explanation
Correct answer: B
Step-by-Step Solution
To find the cost price (CP), let the cost price of the hair dryer be x.
Define the conditions based on the problem:
When sold for Rs. 650, there is a profit. Profit = Selling Price - Cost Price = 650 - x.
When sold for Rs. 350, there is a loss. Loss = Cost Price - Selling Price = x - 350.
The problem states that the profit is twice the loss: 650 - x = 2 * (x - 350)
Solve for x:
650 - x = 2x - 700
Add 700 to both sides: 1350 - x = 2x
Add x to both sides: 1350 = 3x
Divide by 3: x = 1350 / 3
x = 450