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Question 51
Raj sells a machine for Rs 51 lakhs at a loss. Had he sold it for Rs 60 lakh, his gain would have been 8 times the earlier loss. What is the cost price of the machine?
Solution
Let cost price of the machine = Rs. $$x$$ lakhs
When selling price = Rs. 51 lakhs
=> Loss = Rs. $$(x - 51)$$ lakhs
If selling price = Rs. 60 lakhs
=> Profit = Rs. $$(60 - x)$$ lakhs
According to ques, Profit = 8 $$\times$$ loss
=> $$(60 - x) = 8 \times (x - 51)$$
=> $$60 - x = 8x - 408$$
=> $$8x + x = 408 + 60 = 468$$
=> $$x = \frac{468}{9} = $$ Rs. $$52$$ lakhs
=> Ans - (B)
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