The profit earned by selling an article for Rs. 7,000 is 2/5th the loss incurred on selling the same article for Rs. 4,500. Find the selling price of the article if the article is sold at a profit of 55%.
ATQ, Let the cost price of the article be Rs. 'C'. Profit earned = Rs. (7,000 - C) Loss incurred = Rs. (C - 4,500) ATQ; 7,000 - C = (2/5) X (C - 4,500) Or, 5 X (7,000 - C) = 2 X (C - 4,500) Or, 35,000 - 5C = 2C - 9,000 Or, 7C = 44,000 So, 'C' = 6,285.71 Required selling price = (155/100) X 6,285.71 = Rs. 9,743.43
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