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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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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 40b)Rs 50c)Rs 49d)None of theseCorrect answer is option 'C'. Can you explain this answer?
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