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Question
If the profit earned on selling an article for ₹ 810 is the same as loss on selling it for ₹ 530, then find the cost price of the article.
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Solution
Case 1: Profit = Selling price (S.P) – Cost price (C.P)
Case 2: Loss = Cost price (C.P) – Selling price (S.P)
Given that profit of case 1 = loss of case 2
∴ P = 810 – C.P
L = C.P – 530
Since profit (P) = loss (L)
810 – C.P = C.P – 530
∴ 2C.P = 810 + 530 = 1340
⇒ C.P = `1340/2`
∴ C.P = 670
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