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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