Question 81

Rajesh sells a machine for Rs 57 lakhs at a loss. Had he sold it for Rs 67 lakh, his gain would have been 7 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. 57 lakhs

=> Loss = Rs. $$(x - 57)$$ lakhs

If selling price = Rs. 67 lakhs

=> Profit = Rs. $$(67 - x)$$ lakhs

According to ques, Profit = 7 $$\times$$ loss

=> $$(67 - x) = 7 \times (x - 57)$$

=> $$67 - x = 7x - 399$$

=> $$7x + x = 399 + 67 = 466$$

=> $$x = \frac{466}{8} = $$ Rs. $$58.25$$ lakhs

=> Ans - (A)

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