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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