Question: The profit obtained by selling an article for Rs 480 is twice the…
2024
Question: The profit obtained by selling an article for Rs 480 is twice the loss obtained by selling for Rs 300. What is the cost price of the article?
Answer: C. 360 — Let the cost price be x. Profit when sold at Rs 480 = 480 − x. Loss when sold at Rs 300 = x − 300. Set up the equation using the given relation (profit is…
- A.
380
- B.
420
- C.
360
- D.
400
Attempted by 76 students.
Show answer & explanation
Correct answer: C
Let the cost price be x. Profit when sold at Rs 480 = 480 − x. Loss when sold at Rs 300 = x − 300.
Set up the equation using the given relation (profit is twice the loss):
480 − x = 2(x − 300)
480 − x = 2x − 600
480 + 600 = 3x ⇒ 1080 = 3x ⇒ x = 360
Check: Selling at 480 gives profit 480 − 360 = 120. Selling at 300 gives loss 360 − 300 = 60. Since 120 is twice 60, the solution is correct.
Answer: Rs 360