Question 83
Rajat sells a machine for Rs 53 lakhs at a loss. Had he sold it for Rs 64 lakh, his gain would have been 10 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. 53 lakhs
=> Loss = Rs. $$(x - 53)$$ lakhs
If selling price = Rs. 64 lakhs
=> Profit = Rs. $$(64 - x)$$ lakhs
According to ques, Profit = 10 $$\times$$ loss
=> $$(64 - x) = 10 \times (x - 53)$$
=> $$64 - x = 10x - 530$$
=> $$10x + x = 530 + 64 = 594$$
=> $$x = \frac{594}{11} = $$ Rs. $$54$$ lakhs
=> Ans - (D)
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