a man sells a radio set a gain of 5 %.had he sold it for rs.490 less,he would have lost 2 %.find the c.p of the radio set.
To find the cost price (C.P.) of the radio set, we can use algebraic equations based on the given information.
Let's assume the cost price of the radio set is 'x' rupees. According to the question, the man sells the radio set at a gain of 5%, meaning he sold it for 105% of the cost price. Hence, the selling price (S.P.) is 105% of 'x' which is 1.05x.
We are also given that if he had sold it for 490 rupees less, he would have incurred a loss of 2%. This means the selling price in this scenario would be 98% of the cost price, or 0.98x.
Now we can set up the equation:
1.05x - 0.98x = 490
Simplifying this equation, we get:
0.07x = 490
x = 490 / 0.07
x ≈ 7000
Therefore, the cost price (C.P.) of the radio set is approximately 7000 rupees.
if the cost is c,
1.05c - 490 = .98c
c = 7000
check:
sold it for 7000 * 1.05 = 7350
if sold for 490 less (6860) he'd have lost 140, or .02*7000, a 2% loss.
OK!