Question

A dealer gets \[Rs.940\] more if instead of selling a table at a loss of 10% he sells at gain of 10%. Find the cost price of the table.

Answer 1

Hint: In order to this question, as we can see that the given question is belongs to the topic profit and loss, so will first assume the C.P of the table as a variable and then we will further act according to the question, as loss percentage is given, we can find the loss amount with respect to the assumed cost price of the table.

Complete step by step solution:
Let the cost price or C.P of the table be $Rs.x$ .
And the given loss percentage while selling is, \[loss = (100 - 10)\% \,of\,x = \dfrac{{90}}{{100}} \times x = \dfrac{9}{{10}}x\]
And, \[Gain = (100 + 10)\% \,of\,x = \dfrac{{110}}{{100}}x = \dfrac{{11}}{{10}}x\]
A dealer gets \[Rs.940\] .
Now, according to the question:
\[
  \therefore Gain - loss = 940 \\
   \Rightarrow \dfrac{{11}}{{10}}x - \dfrac{9}{{10}}x = 940 \\
   \Rightarrow \dfrac{{11x - 9x}}{{10}} = 940 \\
   \Rightarrow \dfrac{{2x}}{{10}} = 940 \\
   \Rightarrow 2x = 9400 \\
   \Rightarrow x = 4700 \;
 \]
Hence, the required cost price of the table is \[Rs.4700\] .
So, the correct answer is “ \[Rs.4700\]”.

Note: The profit and loss formula is a mathematical formula that is used to determine the market price of a commodity and to calculate how lucrative a business is. There is a cost price and a selling price for every item. We can calculate the profit or loss made for a particular product based on the values of these prices. The terms cost price, fixed, variable, and semi-variable cost are all discussed here.