The profit earned on selling an article at ₹720 is half of the loss incurred on selling the same article at ₹360. What is the cost price of the article?
Answer & explanation
Correct answer: option 2
Let the loss occurred on selling the article at Rs. 360 be Rs. x
So, the profit occurred on selling the article at Rs. 720 is Rs. \(\frac{x}{2}\)
Now, according to question
720 – \(\frac{x}{2}\) = 360 + x
⇒ \(\frac{3x}{2}\)= 360
⇒ x = 240
Now, the cost price of article = 360 + x = 360 + 240
The cost price is Rs. 600