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The profit earned after selling an article for Rs.1,754 is the same as loss incurred after selling the article for Rs.1,492. What is the cost price of the article?

The profit earned after selling an article for Rs.1,754 is the same as loss incurred after selling the article for Rs.1,492. What is the cost price of the article? Correct Answer Rs. 1,623

Given:

SP while earning profit = SP while incurring a loss 

Formulas used:

Selling Price = Cost Price + Profit 

Selling Price = Cost Price - Loss 

Calculation:

Let the cost price be = a 

1754 - a = Profit 

a - 1492 = Loss 

As per the question;

1754 - a = a - 1492 

⇒ 1754 + 1492 = 2a 

⇒ 3246 = 2a 

⇒ a = 3246/2

⇒ a = 1623 

∴ The cost price of article Rs.1623. 

Shortcut TrickWhen amount of profit and loss is equal; 

Cost Price = (SP1 + SP2)/2 

⇒ Cost Price = (1754 + 1492)/2

∴ Cost Price = 3246/2 = Rs.1623

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