Class 7 Exam > Class 7 Questions > Mr shah sold a sofa at a gain of 15 percent h...
Start Learning for Free
Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it?
Most Upvoted Answer
Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 les...
Understanding the Problem
To find the purchase price of the sofa, we need to analyze the information provided. Mr. Shah sold the sofa at a gain of 15%, but if he had sold it for 340 less, he would have incurred a loss of 2%.
Let’s Define Variables
- Let the purchase price of the sofa be 'P'.
- Selling price with a 15% gain = P + 0.15P = 1.15P
- Selling price with a 2% loss = P - 0.02P = 0.98P
Setting Up the Equation
According to the problem:
1. Selling Price at 15% gain = 1.15P
2. Selling Price at 2% loss = 0.98P
Since he would have sold it for 340 less at a loss:
1.15P - 340 = 0.98P
Solving the Equation
To isolate P, we can rearrange the equation:
1.15P - 0.98P = 340
This simplifies to:
0.17P = 340
Now, divide both sides by 0.17:
P = 340 / 0.17
Calculating P
Now, we find the value:
P = 2000
Conclusion
The purchase price of the sofa is:
- 2000 (currency not specified, assumed to be in the local currency).
This solution helps in understanding profit and loss concepts effectively!
To find the purchase price of the sofa, we need to analyze the information provided. Mr. Shah sold the sofa at a gain of 15%, but if he had sold it for 340 less, he would have incurred a loss of 2%.
Let’s Define Variables
- Let the purchase price of the sofa be 'P'.
- Selling price with a 15% gain = P + 0.15P = 1.15P
- Selling price with a 2% loss = P - 0.02P = 0.98P
Setting Up the Equation
According to the problem:
1. Selling Price at 15% gain = 1.15P
2. Selling Price at 2% loss = 0.98P
Since he would have sold it for 340 less at a loss:
1.15P - 340 = 0.98P
Solving the Equation
To isolate P, we can rearrange the equation:
1.15P - 0.98P = 340
This simplifies to:
0.17P = 340
Now, divide both sides by 0.17:
P = 340 / 0.17
Calculating P
Now, we find the value:
P = 2000
Conclusion
The purchase price of the sofa is:
- 2000 (currency not specified, assumed to be in the local currency).
This solution helps in understanding profit and loss concepts effectively!
Attention Class 7 Students!
To make sure you are not studying endlessly, EduRev has designed Class 7 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 7.
|
Explore Courses for Class 7 exam
|
|
Similar Class 7 Doubts
Top Courses for Class 7View all
Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it?
Question Description
Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it?.
Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it?.
Solutions for Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? in English & in Hindi are available as part of our courses for Class 7.
Download more important topics, notes, lectures and mock test series for Class 7 Exam by signing up for free.
Here you can find the meaning of Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? defined & explained in the simplest way possible. Besides giving the explanation of
Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it?, a detailed solution for Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? has been provided alongside types of Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? theory, EduRev gives you an
ample number of questions to practice Mr shah sold a sofa at a gain of 15 percent had he sold it for 340 less he would have gotten a loss of 2 percent at what price did he purchase it? tests, examples and also practice Class 7 tests.
|
|
Explore Courses for Class 7 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup