The profit obtained by selling an article for Rs. 56 is the same as the loss obtained by selling it for Rs. 42. What is the cost price of the article?Select one:a. None of theseb. 49c. 40d. 50
Question
The profit obtained by selling an article for Rs. 56 is the same as the loss obtained by selling it for Rs. 42. What is the cost price of the article?Select one:a. None of theseb. 49c. 40d. 50
Solution
To find the cost price of the article, we can set up the equation:
Selling Price - Cost Price = Profit or Loss
Let's assume the cost price of the article is 'x'.
According to the given information, the profit obtained by selling the article for Rs. 56 is the same as the loss obtained by selling it for Rs. 42.
So, we can set up the equation:
56 - x = x - 42
Simplifying the equation, we get:
2x = 98
Dividing both sides by 2, we find:
x = 49
Therefore, the cost price of the article is Rs. 49.
Hence, the correct answer is option b. 49.
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