Profit and Loss Test

Result

Profit and Loss Test - 8

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Question 1
1 / -0

Profit obtained by selling a mixer for Rs. 56 is the same as the loss incurred by selling it for Rs. 42. What is the cost of the mixer?

A
Rs. 49

B
Rs. 7

C
Rs. 50

D
Rs. 54

Solution

Let C.P. of the mixer be Rs. x.
Concept to be used:

S.P. - C.P. = Profit
And, C.P. - S.P. = Loss

Given: When S.P. = Rs. 56, a profit is made.
⇒ Profit = Rs. (S.P. - C.P.) = Rs. (56 - x)

And when S.P. = Rs. 42, a loss is incurred.
⇒ Loss = C.P. - S.P. = Rs. (x - 42)

Since Profit made = Loss incurred, therefore
⇒ 56 - x = x - 42
⇒ 56 + 42 = 2x ⇒ 98 = 2x
⇒ x = 49

So, C.P. of the mixer = Rs. 49