Question : Profit after selling a commodity for Rs. 400 is the same as loss after selling it for Rs. 300. The cost of the commodity is:
Option 1: Rs. 450
Option 2: Rs. 400
Option 3: Rs. 350
Option 4: Rs. 250
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Correct Answer: Rs. 350
Solution : Let's denote the cost price of the commodity as C. The profit after selling it for Rs. 400 is given by the formula: Profit = Selling price − Cost price ⇒ Profit = 400 − C The loss after selling it for Rs. 300 is given by the formula: Loss = Cost price − Selling price ⇒ Loss = C − 300 Since Profit = Loss ⇒ 400 − C = C − 300 ⇒ 2C = 700 ⇒ C = 350 Hence, the correct answer is Rs. 350.
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