Question 96

Raghuram sells a machine for Rs 43 lakhs at a loss. Had he sold it for Rs 53 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. 43 lakhs

=> Loss = Rs. $$(x - 43)$$ lakhs

If selling price = Rs. 53 lakhs

=> Profit = Rs. $$(53 - x)$$ lakhs

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

=> $$(53 - x) = 7 \times (x - 43)$$

=> $$53 - x = 7x - 301$$

=> $$7x + x = 301 + 53 = 354$$

=> $$x = \frac{354}{8} = $$ Rs. $$44.25$$ lakhs

=> Ans - (D)

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