While selling an item, the difference between selling it at 11% profit and 13% loss is ₹204. What is the cost price of the item?
Given:
We are given that the difference between selling an item at an 11% profit and a 13% loss is ₹204.
Solution:
Let the cost price of the item be C.
Selling Price at 11% profit = C + 0.11C = 1.11C
Selling Price at 13% loss = C − 0.13C = 0.87C
The difference between the selling prices at 11% profit and 13% loss is ₹204. Therefore:
1.11C - 0.87C = 204
(1.11 - 0.87)C = 204
0.24C = 204
C = = 850
The cost price of the item is ₹850.
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