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Anu sold an article for Rs.480 at some profit. Had she sold it for Rs.400, then there would have been a loss equal to one-third of the initial profit. What was the cost price of the article?

Question

Anu sold an article for Rs.480 at some profit. Had she sold it for Rs.400, then there would have been a loss equal to one-third of the initial profit. What was the cost price of the article?

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Solution

Let's solve this step by step:

Step 1: Let's assume the cost price of the article is 'x' Rs.

Step 2: According to the problem, Anu sold the article for Rs.480 and made some profit. So, the profit is Rs.480 - 'x'.

Step 3: The problem also states that if she sold it for Rs.400, she would have a loss equal to one-third of the initial profit. So, the loss is 'x' - Rs.400.

Step 4: According to the problem, this loss is equal to one-third of the initial profit. So, we can set up the equation: 'x' - 400 = 1/3 * (480 - 'x').

Step 5: Solve this equation for 'x'. Multiply through by 3 to get rid of the fraction: 3*'x' - 1200 = 480 - 'x'.

Step 6: Add 'x' to both sides: 4*'x' - 1200 = 480.

Step 7: Add 1200 to both sides: 4*'x' = 1680.

Step 8: Divide by 4 to solve for 'x': 'x' = 420.

So, the cost price of the article was Rs.420.

This problem has been solved

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