Question 28

Raheem sells a machine for Rs 48 lakhs at a loss. Had he sold it for Rs 60 lakh, his gain would have been 5 times the former loss. Find the cost price of the machine.

Solution

Let cost price of the machine = Rs. $$x$$ lakhs

When selling price = Rs. 48 lakhs

=> Loss = Rs. $$(x - 48)$$ lakhs

If selling price = Rs. 60 lakhs

=> Profit = Rs. $$(60 - x)$$ lakhs

According to ques, Profit = 5 $$\times$$ loss

=> $$(60 - x) = 5 \times (x - 48)$$

=> $$60 - x = 5x - 240$$

=> $$5x + x = 240 + 60 = 300$$

=> $$x = \frac{300}{6} = $$ Rs. $$50$$ lakhs

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