The profit obtained by selling an article for ₹86 is twice the loss obtained by selling the same article for ₹53. Find the cost price.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹64.
We know,
Profit = SP - CP
Loss = CP - SP
Where SP = Selling price and CP = Cost price
According to the question;
⇒ Profit = 2 × Loss
⇒ 86 - CP = 2 × (CP - 53)
⇒ 86 - CP = 2CP - 106
⇒ 3CP = 192
⇒ CP = 64