59.An article is sold for 500 and hence a loss isincurred. Had the article been sold for 700,the shopkeeper would have gained three timesthe former loss. What is the cost price of thearticle?

59.An article is sold for 500 and hence a loss isincurred. Had the art

1.	59.An article is sold for 500 and hence a loss isincurred. Had the article been sold for 700,the shopkeeper would have gained three timesthe former loss. What is the cost price of thearticle?
Answer» Sol: List price (marked price) of an article = Rs 800 Discount percentage = 15 % Discount = 15 % of 800 = 15/100 x 800 = Rs 120 Selling price of the article = List price - Discount = 800 - 120 = Rs 680 Profit = 40/3 % Cost price = Selling price x (100) / (100 + g) = 680 x (100) / (100 + 40/3) = 680 x (300) / (340) = 600 The cost price of the article = Rs 600.