The profit earned after selling an item for ₹797 is the same as the loss incurred after selling the same item for ₹635. What is the cost price of the item?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → ₹716
Let the Cost Price (CP) be ₹x.
Given: Profit from selling at ₹797 = Loss from selling at ₹635
Therefore, \( 797 - x = x - 635 \)
\( 797 + 635 = 2x \Rightarrow 1432 = 2x \Rightarrow x = \frac{1432}{2} = 716 \)