The amount of profit earned by selling an object for ₹ 524 is equal

1.	The amount of profit earned by selling an object for ₹ 524 is equal to the amount of loss suffered by selling it for ₹ 452. What is the cost price of the object?1. ₹4802. ₹4883. ₹4854. ₹500
Answer» Correct Answer - Option 2 : ₹488 Given: Selling price = Rs. 524 when profit is earned Selling price = Rs. 452 when loss is suffered Formula used: Profit = selling price – cost price Loss = cost price – selling price Calculation: Let the cost price be Rs. x According to the question: Profit earned on selling price of Rs. 524 = loss suffered on selling price of Rs. 452 ⇒ Selling price (Rs. 524) – x = x – selling price (Rs. 452) ⇒ 524 – x = x – 452 ⇒ x + x = 524 + 452 ⇒ 2 x = 976 ⇒ x = 976/2 ⇒ x = 488 ∴ The cost price of the object is Rs. 488.

The amount of profit earned by selling an object for ₹ 524 is equal to the amount of loss suffered by selling it for ₹ 452. What is the cost price of the object?1. ₹4802. ₹4883. ₹4854. ₹500

Answer» Correct Answer - Option 2 : ₹488

Given:

Selling price = Rs. 524 when profit is earned

Selling price = Rs. 452 when loss is suffered

Formula used:

Profit = selling price – cost price

Loss = cost price – selling price

Calculation:

Let the cost price be Rs. x

According to the question:

Profit earned on selling price of Rs. 524 = loss suffered on selling price of Rs. 452

⇒ Selling price (Rs. 524) – x = x – selling price (Rs. 452)

⇒ 524 – x = x – 452

⇒ x + x = 524 + 452

⇒ 2 x = 976

⇒ x = 976/2

⇒ x = 488

∴ The cost price of the object is Rs. 488.

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