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The profit obtained by selling a book for Rs 56 is the same as the loss obtained by selling this book for Rs 42. What is the cost price of the book?
- a)Rs 40
- b)Rs 50
- c)Rs 49
- d)None of these
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
The profit obtained by selling a book for Rs 56 is the same as the los...
Let the Cost price be Rs “X"
In the first instance the SP is Rs 56
Profit = SP -CP
Profit = Rs ( 56-X)
In the second instance SP is Rs 42
Loss = -CP -SP
Loss = Rs (X -42)
As per given statement Profit = Loss
=> 56-X = X-42
=>98 = 2X
Or X = Rs49
So, cost price is Rs 49
Case 2: This is asked in a competitive exam or interview (mental maths is useful here)
As the profit and loss are equal for 2 given SP
This implies the CP will be equidistant from both the prices
So, just take the average of both the prices.
(56 +42)/2 = 49
View all questions of this test
In the first instance the SP is Rs 56
Profit = SP -CP
Profit = Rs ( 56-X)
In the second instance SP is Rs 42
Loss = -CP -SP
Loss = Rs (X -42)
As per given statement Profit = Loss
=> 56-X = X-42
=>98 = 2X
Or X = Rs49
So, cost price is Rs 49
Case 2: This is asked in a competitive exam or interview (mental maths is useful here)
As the profit and loss are equal for 2 given SP
This implies the CP will be equidistant from both the prices
So, just take the average of both the prices.
(56 +42)/2 = 49
Most Upvoted Answer
The profit obtained by selling a book for Rs 56 is the same as the los...
Given, Selling price of book = Rs 56 and Rs 42
Let the cost price of the book be x.
Profit = Selling price - Cost price
Loss = Cost price - Selling price
According to the question,
Selling price - Cost price = Cost price - Selling price
2*(Cost price - Selling price) = 14
Cost price - Selling price = 7
x - 56 = 7
x = 63
Therefore, the cost price of the book is Rs 63.
Option (d) None of these is incorrect.
Let the cost price of the book be x.
Profit = Selling price - Cost price
Loss = Cost price - Selling price
According to the question,
Selling price - Cost price = Cost price - Selling price
2*(Cost price - Selling price) = 14
Cost price - Selling price = 7
x - 56 = 7
x = 63
Therefore, the cost price of the book is Rs 63.
Option (d) None of these is incorrect.
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Community Answer
The profit obtained by selling a book for Rs 56 is the same as the los...
Let us assume that the cost price = Rs X
56 - x = x - 42
2x = 98
Hence, x = 49
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