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The profit earned on selling an article at ₹ 720 is half of the loss incurred on selling the same article at ₹ 360. What is the cost price of the article. (SSC MTS 2018)
- a)₹ 540
- b)₹ 600
- c)₹ 480
- d)₹ 420
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
The profit earned on selling an article at 720 is half of the loss in...
Understanding the Problem
We need to find the cost price (CP) of an article based on the profit and loss information provided when the article is sold at two different prices.
Given Values
- Selling Price when sold at profit (SP1) = 720
- Selling Price when sold at loss (SP2) = 360
Key Relationships
1. Profit earned when sold at SP1:
- Profit = SP1 - CP = 720 - CP
2. Loss incurred when sold at SP2:
- Loss = CP - SP2 = CP - 360
Condition Given in the Problem
According to the problem, the profit earned at SP1 is half of the loss incurred at SP2:
- Profit = 1/2 * Loss
Substituting the values:
720 - CP = 1/2 * (CP - 360)
Setting Up the Equation
Now, let's solve this equation step by step:
- Multiply both sides by 2 to eliminate the fraction:
2 * (720 - CP) = CP - 360
- Expanding gives us:
1440 - 2CP = CP - 360
- Rearranging yields:
1440 + 360 = CP + 2CP
1800 = 3CP
- Dividing by 3 gives the cost price:
CP = 600
Conclusion
Thus, the cost price of the article is 600. Hence, the correct answer is option 'B'.
We need to find the cost price (CP) of an article based on the profit and loss information provided when the article is sold at two different prices.
Given Values
- Selling Price when sold at profit (SP1) = 720
- Selling Price when sold at loss (SP2) = 360
Key Relationships
1. Profit earned when sold at SP1:
- Profit = SP1 - CP = 720 - CP
2. Loss incurred when sold at SP2:
- Loss = CP - SP2 = CP - 360
Condition Given in the Problem
According to the problem, the profit earned at SP1 is half of the loss incurred at SP2:
- Profit = 1/2 * Loss
Substituting the values:
720 - CP = 1/2 * (CP - 360)
Setting Up the Equation
Now, let's solve this equation step by step:
- Multiply both sides by 2 to eliminate the fraction:
2 * (720 - CP) = CP - 360
- Expanding gives us:
1440 - 2CP = CP - 360
- Rearranging yields:
1440 + 360 = CP + 2CP
1800 = 3CP
- Dividing by 3 gives the cost price:
CP = 600
Conclusion
Thus, the cost price of the article is 600. Hence, the correct answer is option 'B'.
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Community Answer
The profit earned on selling an article at 720 is half of the loss in...
Let cost price be x
Profit = 720 – x
Loss = x – 360
According to the question,
1440 – 2x = x – 360
3x = 1800
Profit = 720 – x
Loss = x – 360
According to the question,
1440 – 2x = x – 360
3x = 1800
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The profit earned on selling an article at 720 is half of the loss incurred on selling the same article at 360. What is the cost price of the article. (SSC MTS 2018)a) 540b) 600c) 480d) 420Correct answer is option 'B'. Can you explain this answer?
Question Description
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