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profit n loss!!!

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Senior Manager
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profit n loss!!! [#permalink] New post 03 Oct 2006, 04:53
Plz Help:

Karan sells a chair at a loss of 10%. If he had sold it at a profit of 5%, he would have earned $ 75. What is the cost price of the chair?
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 [#permalink] New post 03 Oct 2006, 05:26
Plz Help:

Karan sells a chair at a loss of 10%. If he had sold it at a profit of 5%, he would have earned $ 75. What is the cost price of the chair?

S.P = C.P + P
75 = CP + 0.05*CP
75 = 1.05 * CP
Cp = 75/1.05
= 72.43
Senior Manager
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 [#permalink] New post 03 Oct 2006, 06:06
asaf wrote:
Plz Help:

Karan sells a chair at a loss of 10%. If he had sold it at a profit of 5%, he would have earned $ 75. What is the cost price of the chair?

S.P = C.P + P
75 = CP + 0.05*CP
75 = 1.05 * CP
Cp = 75/1.05
= 72.43


hi,

i got a similar solution for it.........but the answer does not match with that in the answer key.........
Senior Manager
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 [#permalink] New post 03 Oct 2006, 06:11
asaf wrote:
Plz Help:

Karan sells a chair at a loss of 10%. If he had sold it at a profit of 5%, he would have earned $ 75. What is the cost price of the chair?

S.P = C.P + P
75 = CP + 0.05*CP
75 = 1.05 * CP
Cp = 75/1.05
= 72.43


diff in loss and profit %'s is = 5-(-10)=15%

15% of C.P is=75

ergo, C.P=$ 500

I din't really understand the solution.

Maybe u can explain............
Manager
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 [#permalink] New post 03 Oct 2006, 06:51
asaf wrote:
Plz Help:

diff in loss and profit %'s is = 5-(-10)=15%

15% of C.P is=75

ergo, C.P=$ 500

I din't really understand the solution.

Maybe u can explain............


Assume he bought the chair for price x. He sells it at a loss of 10% i.e for 0.9x.
If he had sold for 5% profit, price would have been 1.05x. ($75 is the profit, not price of chair)
1.05x - 0.9x = 75
0.15x = 75
x= 500
Manager
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 [#permalink] New post 03 Oct 2006, 06:51
I have a completely different answer, which is 1500

is that correct?

I am not sure if i understood the question 100%

i understood $75 is the profit, not the new amount, so the formula should be

0.05x=75, therefore x=1500

did i understand this wrong?
Senior Manager
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 [#permalink] New post 03 Oct 2006, 07:00
mst wrote:
asaf wrote:
Plz Help:

diff in loss and profit %'s is = 5-(-10)=15%

15% of C.P is=75

ergo, C.P=$ 500

I din't really understand the solution.

Maybe u can explain............


Assume he bought the chair for price x. He sells it at a loss of 10% i.e for 0.9x.
If he had sold for 5% profit, price would have been 1.05x. ($75 is the profit, not price of chair)
1.05x - 0.9x = 75
0.15x = 75
x= 500


Superb........thanx
Manager
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 [#permalink] New post 03 Oct 2006, 07:03
Actually the phrasing of the question was not very clear to me also. I interpreted in 2 ways: (i) $75 is difference between CP and SP at 5% profit, which would give the answer $1500 (ii) or it could be difference between the SP at 5% profit and SP at 10% loss, which gives the answer $500.
  [#permalink] 03 Oct 2006, 07:03
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