5 Views

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


Team Careers360 20th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

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.

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books