My Math Forum A person sold a chair at a loss of 20%. If he had sold it for Rs 50 more, he would ha

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 March 26th, 2019, 08:45 AM #1 Newbie   Joined: Mar 2019 From: Hyderabad Posts: 7 Thanks: 0 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.
 March 26th, 2019, 09:06 AM #2 Senior Member     Joined: Sep 2015 From: USA Posts: 2,408 Thanks: 1310 $p = c(1-0.2)$ $p+50 = c(1+0.05)$ you solve it
 March 27th, 2019, 05:53 AM #3 Global Moderator   Joined: Dec 2006 Posts: 20,485 Thanks: 2041 The difference between a 20% loss and a 5% gain is 25%, so Rs 50 is 25% of the cost price.
April 11th, 2019, 05:27 PM   #4
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Quote:
 Originally Posted by zahid0987 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?

 April 11th, 2019, 06:08 PM #5 Global Moderator   Joined: Dec 2006 Posts: 20,485 Thanks: 2041 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.
April 11th, 2019, 06:58 PM   #6
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 Originally Posted by skipjack 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.

April 11th, 2019, 07:10 PM   #7
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Quote:
 Originally Posted by skipjack 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?

April 11th, 2019, 07:17 PM   #8
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 Originally Posted by romsek $p = c(1-0.2)$ $p+50 = c(1+0.05)$ 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.

 April 12th, 2019, 05:40 AM #9 Global Moderator   Joined: Dec 2006 Posts: 20,485 Thanks: 2041 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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