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# profit n loss!!!

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Senior Manager
Joined: 16 Sep 2006
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profit n loss!!! [#permalink]  03 Oct 2006, 04:53
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

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 $75. What is the cost price of the chair? Director Joined: 06 Sep 2006 Posts: 745 Followers: 1 Kudos [?]: 20 [0], given: 0 [#permalink] 03 Oct 2006, 05:26 Plz Help: Karan sells a chair at a loss of 10%. If he had sold it at a profit of 5%, he would have earned$ 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
Joined: 16 Sep 2006
Posts: 406
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Kudos [?]: 32 [0], given: 0

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 $75. What is the cost price of the chair? S.P = C.P + P 75 = CP + 0.05*CP 75 = 1.05 * CP Cp = 75/1.05 = 72.43 hi, i got a similar solution for it.........but the answer does not match with that in the answer key......... Senior Manager Joined: 16 Sep 2006 Posts: 406 Followers: 1 Kudos [?]: 32 [0], given: 0 [#permalink] 03 Oct 2006, 06:11 asaf wrote: Plz Help: Karan sells a chair at a loss of 10%. If he had sold it at a profit of 5%, he would have earned$ 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=$500 I din't really understand the solution. Maybe u can explain............ Manager Joined: 01 Oct 2006 Posts: 242 Followers: 1 Kudos [?]: 5 [0], given: 0 [#permalink] 03 Oct 2006, 06:51 asaf wrote: Plz Help: diff in loss and profit %'s is = 5-(-10)=15% 15% of C.P is=75 ergo, C.P=$ 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 Joined: 12 Sep 2006 Posts: 92 Followers: 1 Kudos [?]: 2 [0], given: 0 [#permalink] 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
Joined: 16 Sep 2006
Posts: 406
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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
Joined: 01 Oct 2006
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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.
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