Question

A dealer gets Rs. 470 more if instead of selling a table at loss of 10% it is sold at gain of 10%. Find the cost price of the table?
1. 3,350
2. 4,350
3. 1,350
4. 2,350

Answer 1

Correct Answer - Option 4 : 2,350

Given: 

A dealer gets Rs 470 more.

Formula Used: 

Loss% = (loss/cp) × 100

Gain% = (gain/cp) × 100 

Calculation: 

Let the cost price of table be 100x 

Selling price at 10% loss,  

⇒ 100x - 10% of 100x = 90x 

Selling price at 10% profit,

⇒ 100x + 10% of 100x = 110x 

Difference in both selling price = 470 

⇒ 20x = 470 

⇒ x = 23.5

Cost price,

⇒ 100x = 100 × 23.5 = Rs 2350 

∴ The cost price of table is Rs 2350