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March 26th, 2019, 08:45 AM   #1
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A person sold a chair at a loss of 20%. If he had sold it for Rs 50 more, he would ha

A person sold a chair at a loss of 20%. If he had sold it for Rs 50 more, he would have gained 5%. Find the cost price of the chair.
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March 26th, 2019, 09:06 AM   #2
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$p = c(1-0.2)$

$p+50 = c(1+0.05)$

you solve it
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March 27th, 2019, 05:53 AM   #3
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The difference between a 20% loss and a 5% gain is 25%, so Rs 50 is 25% of the cost price.
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April 11th, 2019, 05:27 PM   #4
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Quote:
Originally Posted by zahid0987 View Post
A person sold a chair at a loss of 20%. If he had sold it for Rs 50 more, he would have gained 5%. Find the cost price of the chair.
Simple! cost price = 100%. to make a gain of 5%, the selling price has to be 105%. Since it is said it had to be sold for Rs 50 more, then the 5% = Rs 50.
So 1% =( Rs 50)/5 = 10%.
Because cost price = 100%. There you have it. cost price = Rs 10 x 100 = Rs 1000. Is that okay by you?
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April 11th, 2019, 06:08 PM   #5
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It wasn't sold for sold for Rs 50 more than cost price, but for Rs 50 more than a price that resulted in a 20% loss, i.e. 80% of cost price.
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April 11th, 2019, 06:58 PM   #6
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Quote:
Originally Posted by skipjack View Post
It wasn't sold for sold for Rs 50 more than cost price, but for Rs 50 more than a price that resulted in a 20% loss, i.e. 80% of cost price.
Sorry that is a mistake from me. I didn't read the op very well. I will go back to it to see how I can help this guy.
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April 11th, 2019, 07:10 PM   #7
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Quote:
Originally Posted by skipjack View Post
It wasn't sold for sold for Rs 50 more than cost price, but for Rs 50 more than a price that resulted in a 20% loss, i.e. 80% of cost price.
I know that if there must be gain of 5%, the selling price has to be 105%. Do you agree with me?
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April 11th, 2019, 07:17 PM   #8
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Quote:
Originally Posted by romsek View Post
$p = c(1-0.2)$

$p+50 = c(1+0.05)$

you solve it
What do the p and c mean? Is that supposed to be profit and cost price respectively?

Last edited by skipjack; April 12th, 2019 at 05:41 AM.
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April 12th, 2019, 05:40 AM   #9
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Rs c is the cost price and Rs p is the price at which the chair was sold (at a 20% loss).

Subtracting the first equation from the second gives 50 = 0.25c.
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